Cute vid...maybe a bit to cute....
Lets see there over a quarter million homes lost to foreclosure in the US and they expect that number to be about half a million by June...
so if I assume the 2.6 person average per house-hold that would mean what 1,300,000 new people now homeless in the US...
Makes you wonder how long before we see tent cities popping up just like we saw back during the great depression...
The Housing Bubble, page
privacy
Pages:
ATS Members have flagged this thread 0 times
ATS Members have flagged this thread 0 times
reply posted on 19-4-2008 @ 09:55 AM by blimp66
reply to post by DaddyBare
I agree that it is a sad situation and am not trying to make light of it, but I do find it amusing that everyone is trying to blame someone else. I definitely don't enjoy watching people lose their homes and be put out on the street, but the reality is that most of them bought houses that they couldn't really afford. The only way that they could get in was with adustable rate or interest only loans and they speculated that home prices would continue their rapid appreciation and that they'd be able to refi into a fixed rate they could afford. They gambled and lost. Home prices were simply not tied to any economic reality and now, as they have done in the past, they are corrrecting themselves.
I agree that it is a sad situation and am not trying to make light of it, but I do find it amusing that everyone is trying to blame someone else. I definitely don't enjoy watching people lose their homes and be put out on the street, but the reality is that most of them bought houses that they couldn't really afford. The only way that they could get in was with adustable rate or interest only loans and they speculated that home prices would continue their rapid appreciation and that they'd be able to refi into a fixed rate they could afford. They gambled and lost. Home prices were simply not tied to any economic reality and now, as they have done in the past, they are corrrecting themselves.
Pages: ^^TOP^^
The Above Top Secret Web sites are a
wholly owned social content community of
The Above Network, LLC.
This content community relies on
user-generated content from our member contributors.
The opinions of our members are not those of site ownership
who maintains strict editorial agnosticism and simply provides
a collaborative venue for free expression.
ATS Server: www2.theabovenetwork.com
Header data: 0.005 seconds
Page processed in: 0.024 seconds
wholly owned social content community of
The Above Network, LLC.
This content community relies on
user-generated content from our member contributors.
The opinions of our members are not those of site ownership
who maintains strict editorial agnosticism and simply provides
a collaborative venue for free expression.
ATS Server: www2.theabovenetwork.com
Header data: 0.005 seconds
Page processed in: 0.024 seconds
