Quote from thecalip:
I dont understand why we even feel bad about foreclosure. If you cannot afford in the first place, don't buy it. But you think housing market will go up double digits every year, so it is a fool not to jump in. Or you use your house at ATM and also counting double digits gain every year.
I saved years to put down a down payment for my house and to me, it is not as an investment/ATM, it is a HOME for my family.
I am against Obama's plan to give out more free money to people who cannot pay their mortgage (which will turn over to banks)
Doesn't matter what you're against. The facts are, we are in a depression, this one caused by fraud, deceit, and cold blooded disregard for the human condition - all by the beltway crowd.
http://en.wikipedia.org/wiki/File:Maslow's_Hierarchy_of_Needs.svg
Check out where property is on the scale. The powers that be know that they screwed the pooch, and if this doesn't abate, and soon, they'll be crowds in the street. I'm actually glad summer is gone, because I was thinking '65 and '67. Oh, it's coming, because there is no getting out of this without a lot of pain. And now, Xmas is coming, and the kiddies ain't gettin' no toys. The government knows it has to support housing.
there is no question in my mind, that 33 months into this morass, it's getting worse. Read your history. Reference the French revolution......... they come after the ruling "class", and I use the term "class" loosely. As an Obama detractor from day one, I am not surprised about his incompetence, his disregard for the little man, his petty nature. But, I am surprised how quickly the public caught on. Just like a war, where technology goes at warp speed, the mood of the public changed in a heart beat. Some of the things I hear people say about Obama, and I mean business folks, intelligent people, are shocking. This is truly the lost decade. There is nothing on the horizon to turn it around.