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The New Housing Database That Could Invade Your Privacy

By mili   Follow   Thu, 29 Nov 2012, 7:34am   530 views   8 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 Follow Befriend (54) 5,181 threads 6,153 comments 46 male Menlo Park, CA Premium

   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 Follow Befriend 4 threads 91 comments Atlanta, GA

   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 Follow Befriend (1) 246 threads 4,656 comments

   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 Follow Befriend 1 threads 42 comments

   4   5:38am Fri 30 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Simply brilliant! Good thinking, Patrick.

5. E-man Follow Befriend (31) 34 threads 2,542 comments San Jose, CA Premium

   5   8:19am Fri 30 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   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? :)

6. errc Follow Befriend (7) 29 threads 1,203 comments 31 male Premium

   6   8:29am Fri 30 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   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!

7. Patrick Follow Befriend (54) 5,181 threads 6,153 comments 46 male Menlo Park, CA Premium

   7   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.

8. SFace Follow Befriend (2) 60 threads 1,297 comments Premium

   8   11:14am Fri 30 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   So that basically means you'll get a loan in Vallejo but hopeless in San Francisco because of the above? If I was a bank, my bank will probably be out of business with logic like that. The best loans are in the best zip codes.