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The New Housing Database That Could Invade Your Privacy


By mili   Follow   Wed, 28 Nov 2012, 11:34pm PST   893 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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Patrick   Thu, 29 Nov 2012, 12:46am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 1

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

SkyPirate   Thu, 29 Nov 2012, 2:07am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

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

CaptainShuddup   Thu, 29 Nov 2012, 2:35am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 3

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.

carducci22   Thu, 29 Nov 2012, 9:38pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 4

Simply brilliant! Good thinking, Patrick.

errc   Fri, 30 Nov 2012, 12:29am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

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!

Patrick   Fri, 30 Nov 2012, 1:16am PST   Share   Quote   Permalink   Like   Dislike     Comment 6

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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