In today's Washington Post there is an article by Dina ElBoghdady titled Lenders Go After Money Lost in Foreclosure. It is a puzzling question about which party should bear the cost of price fluctuations. The family home is involved which probably creates more sympathy for the buyer. There is also the question as to whether the middleman, lender, knowingly encouraged the buyer to overextend with debt. In this case the reader's sympathy often turns to demonizing the lender, but what is the buyer's responsibility? Perspective probably plays into the reader's opinion.
Reading the comments is instructive with respect to popular opinion. What is right? What will result in the best future for the market? Is that the correct goal? I know I am teetering on the brink of ethics, but what is good economics for the U.S. economy?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment