Bush Mortgage Rate Plan – Absurd!

|December 5, 2007|Uncategorized|

by Osman Parvez
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I don’t normally delve into politics (at least not on this blog) but the Bush administration just unveiled a scheme to freeze mortgage rates for five years on those with adjustable rate mortgages. Although some will argue the positive implications for the housing market, I’m not in favor (to put it mildly). It’s a huge bailout for borrowers who got in over their heads at the expense of everyone else. It will also be detrimental in the long run to the normal mechanics of the housing cycle.

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Osman Parvez

Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.

Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.

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