Re: Bush Plans Loan Relief on Housing
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The total value of American mortgages is about 10 trillion. So 500 billion is 1/2 of 1%.
Now, is the government concerned about the .5% of the mortages held by homeowners ...
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Like Boro said, you're an order of magnitude off in your math.
And beyond that, the dollar percentage is not equivalent to the percentage of mortgages held. These mortgages are probably less expensive than the mean mortgage, so their 5% dollar value of the total is shared by more mortgages. So maybe 6-8% of the total? That's a lot more than 0.5%.
So is the govt really concerned about 6-8% of the people and their financial problems? I don't know, and don't know if it should be. But it's certainly concerned about the financial health of the top 6-8% of this country.
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