Money does not earn money, WORK DOES

UPDATE 3-Obama mulls rental option for homeowners -sources


http://www.reuters.com/article/euRegulatoryNews/idUSN1429055220090714?pageNumber=2&virtualBrandChannel=0&sp=true

This article seems to imply that taking people's homes away from them and letting these same people rent their homes is a kind win win situation.. Paying rent is the same as paying mortgages, often I have found that mortgages were cheaper. Their mortgages are higher than the value of their property. If the government is going to throw around all that money they should simply have a renegotiation of the mortgage based on the lesser valued home. It is not like the government would get back the money anyway.. the costs of managing the mortgage rent scheme would outweigh the cost and benefits of simply forgiving the invisible balance of the higher value.

Allow people to renegotiate mortgages and don't forget to learn the lesson, greed inflated the value of these properties, a bad sense of money makes us think these homes were worth more than they were. The value of these homes are probably more realistic today than they were before. We are going to have to see that inflation is not a good thing and that governments should not fight recessions that help keep prices low. Our greed at having the government step in when a recession is at play has pushed inflation so high that even the rich can not afford to live anymore. Money is a means of exchanging goods and services, not some magic number that works for some and not for others.. A society based on money for nothing over and over again can't help but crash down.

Gypsy