$700bn Bailout is shot down by House of Rep Vote (205-228), US stock market plummets

Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by fallentimes on Monday September 29, 2008 @07:58PM (#319059)

Houses are not an investment vehicle. If you buy one, it should be the for the long-term. Otherwise - don't. And I do feel for the minority of people with special circumstances.

I do not think I'm superior; I just try to know what I'm doing before acting.

The people who took out those loans knew what they were getting in to, and if they didn't, they should have. If it sounds too good to be true...

I'm well aware that this affects everyone in some way. We're at a point where fixing liquidity is crucial and something needs to be done, and we need to make sure to profit from any money lent. I really like what Sweden did: http://is.gd/3iO2

I just worry our government is going to react instead of decide.

[ Parent | on HN ]

Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by krschultz on Tuesday September 30, 2008 @09:04AM (#319529)

You keep speaking on the premise that it is contained to sub-prime mortgages. "The people who took out those loans knew what they were getting into"

What about the other 90% of people who live on the same street as the asshole with the sub prime mortgage who are now unable to sell their house if they need to because the sub prime one is at auction for half the price they need to get?

Liquidity isn't going to fix that, we have a problem with too many houses on the market and too few people buying them. If you have enough money you can still get a prime mortgage, people just don't want to buy right now.

[ Parent | on HN ]

Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by fallentimes on Tuesday September 30, 2008 @09:24AM (#319540)

No, I don't. I was talking about all houses and all mortgages when I said:

"Houses are not an investment vehicle. If you buy one, it should be for the long-term."

[ Parent | on HN ]