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I lost it at work today.

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posted on Feb, 21 2009 @ 05:31 AM
mate you're missing the bigger picture.. here in Australia we have had this sort of thing since 2001.. it used to be $7000 then went up to $14000 and now for the next 6 months we get $21000 free from the government if you are a 1st home buyer..

now the bigger picture is this.. people are buying into this gloomy financial problem and not spending like the used too.. so one of the biggest stimulators of the economy is construction and financing.. hence encourage more people to get houses built, or buy a house from a depressed market will help save the banks from making bigger losses on mortgagee sales..

its there as a resource to use, take your idealistic morals and think ppragmatically and say well if it is there as an option, and it will benefit my family, and it is not illegal then why not utilise it.

reply to post by David9176

posted on Feb, 21 2009 @ 05:48 AM
reply to post by David9176

In reference to what your co-worker said, it reminds me of one
of the one liners from the Blue Collar Comedy Tour.

"You can't fix stupid"

They don't realize that if lots of ppl do this, and then default
with the "hand out" money, ie. "our tax money" and our future
children's money, that they are making what is bad much worse
in the not so distant future.

So for your parasitic co-worker, I think that one liner fits.

Thou, he is far from alone in his thinking, and its one of the core
issues killing the country.

posted on Feb, 21 2009 @ 05:59 AM
Well, the way I see it you have three choices:

1) You rent, and increase the property owner's equity;
2) You buy, and increase your personal equity;
3) You live on the street.

Hmmm, to me there is only one choice. And if the gov't is going to help you get started, so be it. Right now it's a buyer's market but I would wait a few more months. It will only get better.

Seriously, if you are in any position to buy a home now is the time to do it. It's supply and demand; right now prices are low.

posted on Feb, 21 2009 @ 07:17 AM
reply to post by David9176


And, I think your wary stance is realistic given a lot of givens . . .

I'm friends with Andrew's Dad. Andrew can be rather intense. But I think he tends to be accurate. His Dad is a dear heart. Both authentic Christians.

I think one of the earth change maps of the USA may be from Hopi sources. Not certain.

God have mercy on all who Love Him.

posted on Feb, 21 2009 @ 09:30 AM
reply to post by TheComte

No, no, NO! This is the mistake that people keep making! Home ownership through debt is a huge scam! Buying a house through debt does NOTHING for your equity. It's earning money from your job and paying off the debt that "builds equity". But you could do that without buying a house! Sure rent is expensive, but it's more expensive to pay interest, property taxes and for home repairs and maintanance. Sure if your home triples in value it would be worth it, but we've seen now that home prices can plummet just as easily as they can rise.

posted on Feb, 21 2009 @ 10:10 AM
to be honest I think its horrible what is happening to the usa finacially but I also hate big business, so if a few companies close oh well. I work at a casino in CT and instead of having the tribal elders take a pay cut they laid off a few hundred employees, I mean do elders really need to make 1 mill a year?

posted on Feb, 21 2009 @ 10:22 AM
For me, owning a house is the freedom to to do what I want in it.
I have dogs and cats , I can paint it purple if I want to ( I do not want to)

The value in my home has dropped half, but my mortgage is still less than what it would cost to rent . I do agree though that it is still like paying rent, but to the bank, but at least the bank does not tell me what I can do to my home.

Also if you do not pay your rent, you are evicted in 30 days. If my husband looses his job, at least a have months of time to save up before we are foreclosed. It is something anyway.

Buying does give you those freedoms, but takes others away as well, like the ability to just move when you want. I am stuck here now that I bought because I can not sell. Si I say buy if you plan on staying where you are for 10 years , and have a stable job. Otherwise I would not.

posted on Feb, 21 2009 @ 10:30 AM

Originally posted by David9176
I work with someone who has been trying to own a home. All the power to him on that.

Today he told me that under Obama's plan, he can get 8000 or 10000 dollars from the government since he is a first time home buyer and it didn't have to be paid back. (I don't know the exact details, it's just what he told me) As he told me this, he also mentioned that I should get in on this since I have never owned a home.

This is when I lost it.

I told him why would I do that? This is part of the problem. I don't want to steal money away from other people and why in the world would I risk buying one right now when everything is going to hell?

His answer?

Well I just want to get what I can before it gets too nasty.

This set me off on a 20 minute rant. I am so damn ANGRY about everything that is going on.

Politicians are corrupt, we are being taxed far too much, are debt is way too high, unemployment is rising at an alarming rate, wars all over, people wanting things for free (When it isn't really free it's stealing!).

How can anyone put trust in what is happening? HOW?

[edit on 20-2-2009 by David9176]

amazing that you don't get mad at the government giving subsidies to corporations like macdonalds to advertize overseas. or exxon getting taxpayer money to drill offshore. it's those f'in middle class and poor people getting money that you hate

posted on Feb, 21 2009 @ 10:55 AM
So this is the way to address the collapsing economy, by repeating the exact same scenario that caused this in the first place?

Getting people to buy homes they can't afford?

It's the same as hooking up a fire hose to a tanker of gasoline and opening the valve, using the gasoline to attempt to extinguish the fire.

posted on Feb, 21 2009 @ 02:20 PM
reply to post by amatrine

if you look at the bigger picture, when you get older and your mortgage has finished, all the other saps are still paying rent, buy every time, i bought 13 years ago for £65000, sold last year for £265000, that was a cool £200000, i dont see renters getting this when they move

posted on Feb, 21 2009 @ 03:58 PM
reply to post by Distractions4Nothing

How does paying off a mortgage do nothing for your equity? Please explain. And who except the super rich pay cash for a house? I think you are way off, way off.

Property values fluctuate, no doubt about it. But in history they have never stayed depressed. They have always increased in value. Always.

By all means keep paying your landlord rent. I'm sure he will be happy. After all, it is hard to find good tenants.

People buying homes did not cause the collapse. It was unscrupulous banks pushing mortgages on people that couldn't afford them, often with no down payment. Obviously, if you are making $8.50 an hour and no down payment you shouldn't be in a mortgage.

[edit on 21-2-2009 by TheComte]

posted on Feb, 21 2009 @ 04:23 PM
Maybe the OP needs his meds.

posted on Feb, 21 2009 @ 04:25 PM
Heres what people are not understanding. Under the last first time home buyers credit, people HAD TO PAY THE MONEY BACK! So, if you bought your house in May of 2008, you have to pay the $7500 back in installments for a certain amount of years. Now with the new credit, people don't have to pay it back. Tell me you would not be upset if you had to GIVE BACK your credit when the person next door gets it free of charge. Thats bull! They should have worked it out better. I have so many issues with this bill

posted on Feb, 21 2009 @ 05:31 PM
hold on. your telling me i bought my house in may of 08, and i took the tax credit for 7,500 interest free to be paid back in increments of 500 on my taxes for the next 15 years and people that have just recently bought that took the credit dont have to pay it back.

posted on Feb, 21 2009 @ 08:21 PM
A bit of a side thread but consistent with the headline for the OP's post;

I have held my current job for three years. In that time, we have called 911 zero times.

In the last 30 days, we called 911 twice for an ambulance. The first call was for an employee who had a nervous breakdown due to personal issues. She was taken away in an ambulance and was required to be at work the next day. See how much your company cares about you?

The second 911 call was for a customer who wanted something done that the company refused to do. The refusal was consistent with written policy. She started having a "medical condition" and ended up being taken away in an ambulance. She also returned the next day.

Clearly, these are both people that do NOT need ambulances. They need therapy. I think we will all see more of this as the market continues it's slow but steady bleed.

The DOW is down almost 50% in 18 months.

On 911, the people that didn't panic and instead went back to work; those people died.

Just afew items to think about.

posted on Feb, 21 2009 @ 08:27 PM
reply to post by David9176

We've been doing that in Australia for the past few years. Up to $14,000... If they're willing to give you money, take it. Simple. Why would you be angry about this I wouldn't know. If it is the preset to some sort of government scam, you're going to be effected by it whether you take this money or not. Just take it. Or not. Your choice.

posted on Feb, 21 2009 @ 08:30 PM
reply to post by David9176

Lock -n- Load brother the #s gonna hit the fan sooner than anyone is expecting. I wouldn't take the money either. For now I'm just helping to start up a business it's the first real responsibility I've ever had and want to make work. I don't own a home either and wouldn't at this time in America. Really is pretty damn sad. I wanted to get married and start a family but I may have to settle for an armory instead.

posted on Feb, 21 2009 @ 08:37 PM
Yes it is sad that we work so hard and can hardly afford to work.
We are fast becoming slaves to the government. We elected these folks into office and they are ensuring our "slavery" for our lives. Born, kept and buried by the government, for the government and to the government. I wish people would wake up and see that debt is a killing us. I wish we would let the banks go.....I would rather live free than live on the governments check. I am sure the founding fathers are turning around in their graves



posted on Feb, 21 2009 @ 08:40 PM
reply to post by Distractions4Nothing

this is an interesting thought. I have always felt renting was giving my money to someone else. I do see your point. We may all be renting soon
from the government. Socialism here we come........all hail the keeper the government.

posted on Feb, 21 2009 @ 11:47 PM
I bought my house in 05, had an 80/20 with an ARM. My credit and finances wouldn't allow me to get a 6000 sq ft. manse in a gated community. What I got was a solid house that my wife and I could fit into comfortably. I drive a Chevy Metro to work, it's paid for, my wife has an old Camry that's also paid for, and we have a truck for hauling stuff that's not paid for. When I bought my house, my mortgage broker told me to work on cleaning up my credit for the two years until the rate reset, and he'd see what I could get at that point...

Another friend of mine got into a similar house, similar credit problems, and did nothing to fix his credit. He got a new mortgage about six months after his reset, which went up to 14% from 5%. Now he's at 7.5%, thirty year fixed. I worked my credit and got a 5.87% 15 yr fixed, and immediately signed up for bi-weekly payments. I paid for two months of my rate hitting 10% when my rates reset, but now my payments are lower than the first time around. I also round up to the nearest hundred over my payment amount and that is also going to the principle, not interest. I am making an extra $2000 payment each year, and it looks like I will be done in 2017, if the bank is still around!

After Ike, I asked my lender, WF, to defer two payments to the end of my note, allowing them to make interest on them. They said no loan modifications. OK, so now they won't work with me, so I am trying to double up my payments to try to get my house paid off in 2014. It will result in their losing about 20k in interest- all due to their not helping out a storm survivor. I didn't ask for two payments to be dismissed, just deferred. They would have made more money off that transaction, but said no way. Fine. This is their punishment. Arrogant, greedy bastages!

I paid my own way, didn't get help when I needed it, so therefore I should pay for my buddy's bad decision? I need to pay his mortgage? How does THAT seem fair? Do I get to claim all the people whose mortgages I am paying for on my taxes next year? I figure about 9 should be good enough for me...

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