Bail out the real estate investors

Perspective: Loan mods, first-time buyers can't rescue housing

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If we are to believe the "experts," the economic condition we find ourselves in is a direct result of housing prices and foreclosures. The entire recession is being blamed on housing and foreclosures and financial woes stemming from bad loans. These facts are why the "experts" are declaring that since housing led us into this mess, housing must lead us out of it. Sounds nice, but it obviously isn’t that easy.

There’s a massive pork-laden bill of "change" being touted as stimulus that is supposed to take us one step closer to solving this financial and housing crisis. President Obama and his fellow experts have somehow lost sight of what they’ve already told us the problem is. The problem is with housing. We don’t need to build roads and re-sod the National Mall — we need to stem the tide of foreclosures, more specifically, we need to get the foreclosed property, REO property, off the open market so prices will stabilize.