Sorry for all of the Megan posts, but this one made sense to me on many levels. Most importantly, I hope that she is correct about this:
Stopping foreclosures can prevent some overshoot, but it does so by making housing markets stagnant. People who are just barely hanging on to their houses don’t move to take better jobs, and they certainly don’t invest in the houses, which means that the local housing stock erodes whether or not the houses are foreclosed on.
Heather and I have worked pretty hard to treat our house well and we have also invested in it (for the record, those investments have also made it much easier to live in).
So, Megan and renters everywhere, give us a call in a few years. In the meantime, if I could just get the grass to be green…