The Real Estate Value Marketing Pitch, Did you fall for it?

As far as I can tell, the run-up in home prices over the last 15 years was due to 1. the cost of money going down, and 2. that money being made available to a greater number of people. The result was a greater number of total homes in the US and the appreciation of all property. I don't think the bailout package materially impacts either of these, and we will see an acceleration of losses in the values of our homes and all classes of real estate. The BS about holding up the value of our homes was simply a marketing ploy. I would wager that only an insignificant portion of the $700 B will go towards purchasing true mortgage backed securities. Did anyone else notice how they stopped using the term mortgage related in the second sales pitch for the package? Did anyone else notice they gave Paulson the authority to use it for anything he wanted in the final version? Yes, I know the bill was really about credit liquidity and fully understand the implications of that. Have you read the title of this blog? Congress should have called the bailout package the Talladega Nights Final Car Wreck Scene Act. All it's going to do is prolong the agony for the average American. I just hope the politicians keep their lips to themselves at the end of this comedy/horror flick. Check it out for yourself. Just click on the title of this post to link to the actual text and go to page 3, Sec. 2 Purposes.