Thursday, August 18, 2005

A quick sure way to pop the property speculation bubble

The Treasury Department's Office of the Comptroller of the Currency which regulates the national banks shoud issue EMERGENCY regulations ordering mortgage writers to issue them ONLY to buyers agreeing in writing to reside on the property for 12 months, and to temporarily ban interest only mortgages and any other mortgage not a standard fixed or adjustable rate loan.

Such rules would pop the bubble by chasing the speculators out of the market.

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