posted on Mar, 14 2008 @ 10:19 PM
Originally posted by sy.gunson
That was a bit harsh my friend. I would tend to point a finger at those who extended credit to people whom they knew couldn't possibly pay.
See I can't agree....we have to STOP blaming EVERYONE else in this country. You always see it, day in and day out...someone complaining about this
and that, and pointing the finger. Never looking in the mirror.
Real Estate in the US is a scam and has been a scam for a LONG time...this is nothing new. What is new is the GREED / SOCIETY EXPECTATIONS we put on
ourselves. We are sooooo concerned about the size, color, and decor of our homes we don't stop and think..CAN I ACTUALLY AFFORD THIS? We want to
impress others, we want to be looked at as "important" or use it as "status". We prove it in the cars we drive as well...I see it everyday, women
& men who drive huge SUV's and NEVER take them off the blacktop or will never put the thing into 4 wheel drive. They have it for status. So they
can say "yeah my family has an expedition". We do it for others perceptions of us....IMO
Same goes for the housing market....people arent happy with the $130,000 2 bedroom home. They want 3000 square feet, vaulted ceilings, and a 2 car
garage...WHY? Not because they NEED that much space...but because they can invite others over and play the rle of host and show off. Or its the new
college graduate who thinks he/she needs to have the condo downtown in the city...so they buy it...they make $50,000 a year and their morgage is $3000
a month...thats without bills, insurance, auto payments, medical, etc....you do the math! It will never work....and before they know it...they get
their first notice.
Now I do agree...its pretty stupid of the real estate lenders and builders to keep building houses they know 90% of America cannot afford...but people
really do need to STOP...THINK...REVIEW...CHECK THEIR INCOME...REVIEW...THINK...THEN BUY...
Plus this is california...most expensive state in the country all because some crack head actors live there and it has that celeb vibe. My friend
owns a 4 bedroom 1700sqf condo and it cost her.........$712,000
Yeah...i told her shes insane...lol