Does anyone see the eerie similarities between “cash for clunkers” and “teaser home loans”?

Marguerite Quantaine wrote a letter to the editor of The Wall Street Journal, here is portion of what she wrote:

“With America still reeling from the collapse of the housing market brought on by teaser loans promising people homes they couldn’t afford, the government now comes along with a program that does for car ownership what was done for real estate.

Crushed cars. Loan defaults. Repossessions. No transportation to get to a loss jobs. It’s the next recipe for disaster that the experts, government officials, media and talking heads don’t see coming. I betcha.”

As for me I’m all for “cash for clunkers” this allows Joe the janitor to trade in his $1,500.00 car for a $40,000.00 car. Really, what can possibly go wrong.

File Under: To hedge my bet, I think I may purchase stock in car repossession companies

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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