The New Housing Database That Could Invade Your Privacy


By mili   Follow   Thu, 29 Nov 2012, 7:34am   669 views   6 comments
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http://www.thefiscaltimes.com/Articles/2012/11/28/The-New-Housing-Database-That-Could-Invade-Your-Privacy.aspx

A new public government mortgage database looks to better monitor the mortgage industry and prevent the next housing crash – but it needs consumers’ personal financial information to do so.

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  1. Patrick


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    1   8:46am Thu 29 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected  

    We could prevent the next housing crash just by limiting mortgages to amounts that could be paid back by renting out the house.

  2. SkyPirate


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    2   10:07am Thu 29 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    Agreed. When mortgages inflate far above rents, that's when we run into trouble.

  3. CaptainShuddup


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    3   10:35am Thu 29 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Patrick says

    We could prevent the next housing crash just by limiting mortgages to amounts that could be paid back by renting out the house.

    Probably the only smart solution I've ever heard on the topic.

  4. carducci22


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    4   5:38am Fri 30 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Simply brilliant! Good thinking, Patrick.

  5. errc


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    5   8:29am Fri 30 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    BbPatrick says

    We could prevent the next housing crash just by limiting mortgages to amounts that could be paid back by renting out the house.

    But than how would the statist "capitalist" "investors" justify helping the poor (pay THEIR rent) and all the help he process is owed via subsidizing housing

    Landlord infestors: its time to raise rents. I need to maximize my profits,,,,in same breath,,,,but the evil, stupid right wingers are exploiting the poor! We compassionate landlords need to help the poor afford housing. More section 8 cowbell, please!

  6. Patrick


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    6   9:16am Fri 30 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected  

    E-man says

    Patrick says

    We could prevent the next housing crash just by limiting mortgages to amounts that could be paid back by renting out the house.

    By whose metric & whose calculator? :)

    You don't need a calculator to see that if the rent can pay the cost of owning, then anyone who can't pay the mortgage from his salary can rent out the house to pay the mortgage that way instead. So there would not be any foreclosures. The worst that would happen is that an owner might be forced to rent out his house and live elsewhere for a while.

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