they already have a lot of crises to pick from, already hand-crafted by their own retarded policies. might as well add fuel to the minneapolis-styled bonfire that used to be a country.
True but the manufactured housing crisis, gave the government direct control of bailouts and no one batted an eye. We Mericans are being fleeced by the fucking retarded political class and the money is going directly to the political elite all under the guise of helping the poor and racial minorities.
With the banking regulations that were set up the last time (and they were not refined), a bank can literally refuse a loan due to abysmal credit and payment history and get sued for racial discrimination. See The "racist BoA." Or a bank can grant the loan to the same applicant and have a reasonable expectation that the loan written will be defaulted on.
The only problem is when this happened the first time, there was room to go. You could drop the lending rates and float the economy that way. When things got tight, and of course they did, they introduced Quantative Easing. The difference is now there is no where to go, and some type of QE program has been running since Obunghole.
The question is why are they really doing this.
I'm positive that it's not to help shitheads get housing. There's a far bigger goal in mind. It's as if the government wants to bankrupt the banking industry. The properties defaulted on are often done by people who at the minimum have no sense of self pride, neverminded house pride and it would drive that market down. Even though destroyed or run down the reduced prices would make the property easier to obtain by these gigantic financial firms and there would be a net gain. There is a real trend in the Merican housing market now which the financial and investment industry is buying up properties like hotcakes no matter the condition, and then slapping some paint on it, turning around and leasing the property.
The only problem with that is, the ones that can afford to move, will move and build their own and stay separate from the flailing throngs. People like me will be over run and watch as our property value crashes through the floor and we'll either be forced to live in a neighborhood that has turned into a demilitarized zone or move and lease. because all the new housing is either out of our price range or there is nothing left to buy. And land is now minimum 2K for an acre in most of the country, and that's scrub in the middle of fucking nowhere. The same land 10 years ago was under 1000.
To be cynical, once all the financial houses own the private property, then the government can just confiscate all property from the financial houses and no one would care. Why would they? More and more believe, to take from a corporation is not stealing. If the government wanted to it could own every piece of property in 10 years. And once the gubbermind is your landlord, a landlord has rights to inspect the property at any time, with given proper notice. What a way to get around the 4th.