Monday, June 13, 2005

ARMY WANTS TO BOOST HOUSING BUBBLE, TOO

First it was Alan Greenspan. Then it was Alan Greenspan again. Then the East Asian central banks pitched in. And now the Army is doing its part to keep the US housing boom going.
The Army wants to double the top cash bonus for new recruits to $40,000 in an effort to stem a continued recruiting shortfall in the midst of the Iraq war.

As another incentive, the Army is proposing a pilot program to provide up to $50,000 in home mortgage help for recruits who sign up for eight years of active duty, Lt. Col. Thomas Collins said in an interview Thursday. Congress must approve both plans.
Maybe instead of hazard pay, new recruits can bargain for interest-only loans instead. Or maybe just keep the bank at bay when foreclosure time comes.

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