What’s The Best Way To Fix The Housing Mess?

Apparently it’s by helping those who are underwater.  This is only part of it in my opinion and many of these people can’t afford their homes in the first place.  http://blogs.wsj.com/economics/2009/06/12/economists-say-fixing-homeowners-underwater-mortgage-is-way-to-recovery/ 

This may sound crazy but I heard on CNBC not too long ago about the thought of allowing those who had a foreclosure or short sale of recent to allow them to buy again.  Many would say this is ridiculous and I understand where you are coming from but at the same time we are human and make mistakes.  With all of the measures in place and the due diligence done by banks they can help to prevent it from happening again. 

How about allowing borrowers with recent foreclosures to purchase again but cap their debt to income ratios at 36% on the back end (mortgage payment plus all other debts divided by their income).  That’s my thought whether you agree with it or not.