Word: stays
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...federal government is most likely to create a safety net for the falling housing market with a plan that will allow people to stay in their homes by reducing their monthly payments. The FDIC and some members of Congress assume that residential real estate prices will decline slower this way and eventually begin to increase in value if houses are kept out of foreclosure. That may be true, but the plan could be quickly flanked by rising unemployment and the realization by people who can stay in their homes with federal help that they will never have the equity...
...first economic reality which makes propping up the housing market untenable is that unemployment is likely to rise sharply between now and the end of the year. By some estimates it will go over 9% in early 2010. While the government helps some people stay in their homes, the overall housing market could be overrun by foreclosures driven by job losses. Under these circumstances the value of homes will continue to fall. And as prices decline, the current homeowner rescue plan will keep people in their houses using mortgage assistance programs without helping them pay down the principle on their...
...people who might buy a residence using tax credits. The idea of a benefit of up to $15,000 for those purchasing a home has already been floated in the debates over the stimulus package. Bringing housing back to a period of "affordable" prices means the government needs to stay out the business of keeping homes from being sold or foreclosed and helping buyers buy homes...
...seems especially cruel to push foreclosures because no one wants people to lose their homes. But, at some point, the system must take into account the fact that many of these people cannot afford their houses. The irony of allowing current owners to stay where they are is that they will never really "own" a home. They will remain in houses where they are very unlikely to be able to pay off the principle. These residences will not be released into a market where prices continue to drop very rapidly because there are no government programs to keep the housing...
...been making albums since the 90s but 2006's Post-War was the one that really got you known, how has exposure changed your schedule or your albums? Well, I can do a duet with Lucinda Williams. That's a pretty big change. I stay pretty focused on the act of writing and recording. I still go through the same process, it has not changed. At all. The influences are growing because I'm meeting more people, I guess. And I spend more time talking to journalists...