Social justice idiocy aside, the plan also calls for incentivizing home ownership for people who really shouldn't be putting that kind of money on the line. The exact same set of incentives are what led to the subprime mortgage crisis because the Clinton administration couldn't get it out of their heads that not everyone needs to take out a $250,000 mortgage. They learn absolutely nothing from history.
Its as the others in this thread have said: They learned from history alright. They learned they can fleece the most productive people in the country in perpetuity with no consequence. Why wouldn't they do it again and again?
Social justice idiocy aside, the plan also calls for incentivizing home ownership for people who really shouldn't be putting that kind of money on the line. The exact same set of incentives are what led to the subprime mortgage crisis because the Clinton administration couldn't get it out of their heads that not everyone needs to take out a $250,000 mortgage. They learn absolutely nothing from history.
Its as the others in this thread have said: They learned from history alright. They learned they can fleece the most productive people in the country in perpetuity with no consequence. Why wouldn't they do it again and again?
Good point. Consequences for thee but not for me.