I am of the opinion that we should let houses go into foreclosure. The banks made some bad decisions, the people purchasing the houses cannot afford them. We need to let the market system work.
Am I being harsh on those people who will be without homes? Maybe so. I think our society needs to change, though. We don't need 6,000 square feet of home for every two person family out there. There are so many people who could easily open up their homes to displaced families. The average home has pretty much doubled in size since earlier this century. Do we really think that a starter home needs to be at least 2,000 square feet? Maybe this is what brought the whole crisis on to begin with.
I drive through older neighborhoods many times. These homes are now on the "poor" side of our town. They are four bedroom, 2 and 3 story mansions with gorgeous architecture. They have been abandoned or turned into apartments for several families. Do we naively think that the same thing won't someday happen to our brand new "McMansions"?
If we overbuild for an area, eventually the prices will come down. It's actually a good thing. In areas of Louisville, this has created beautiful apartments and homes that are affordable, even for those who don't have jobs.
Let's go back to a simpler time. A time when strangers opened their homes to each other. A time when we were satisfied with what we had in life. A time when our jobs were more than just a paycheck, but a way to provide for our families and for our country.
Let's create a blessed union again with each other and with our country.