reply to post by ~Lucidity
They (actions of both Clinton and GWB) enabled a lot of poor people to buy their own homes.
Unfortunately when the housing market readjusted to reflect actual rather than inflated values - all hell broke loose.
I say unfortunately as if this were some kind of accident. Financiers who instigated this inequity made a fortune bundling and selling this bad debt
China and the American homeowner took the entire hit.
American capitalist took the entire profits.
Yeah Capitalism!!! This is how we do it.
Meanwhile, many folks had the rug yanked out from underneath them.
I am one of those who would not have qualified for a loan otherwise but by some miracle I got one in 2002. I saw my home value triple and I sold. If
I had kept that money and walked away I might have been fine.
In 2006 I bought another house. I paid $218. I could not get $95G for the home today but that is because Florida is one of the hardest hit areas.
Eventually the value will raise. Just as the home prices were artificially inflated I think now they are artificially deflated. Eventually some
equilibrium will take hold. At that time I plan to dump this home and move to Costa Rica where we have already purchased property.
The housing market has at least stabilized but you are right that there is no building going on.
This is wonderful because where I am at here in Florida
The state localities take money from contractors hand over fist.
They allow forests and marshland to be taken and developed into housing communities
without any forethought or planning.
High rise condos going up on every square inch of Florida land with absolutely no consideration (actually they know and do not care)
HOW ARE ALL THESE PEOPLE GOING TO GET WATER AND ELECTRICITY?
2007-2008 we already were threatened with power and water shortages and sewer problems not to mention the one exit road and 2 lane highways that
bottlenecked traffic everywhere and this is when the new places were not even half sold.
Another problem here in Florida that leaves new developments standing empty looking like ghost villages is one more additional example of American
greed and why we should not rely on Capitalism to sustain us is the killer substance many people have already been exposed to..... Chinese drywall.
Since suits are still pending they can't tear them down.
I believe in Capitalism but think we should first map out...What do we need?
How much and where?
At least get the basics covered without killing unsuspecting Americans in their own homes.
Without the threat of NO INFRASTRUCTURE TO SUPPORT THE DEVELOPMENT you have (and really without that your development is nothing more than a facade at
I am HAPPY they have quit building in this area.
Now maybe the street will handle the traffic, sewers will be able to handle the sewer, the water will be enough to go around and we won't have power
shortages for a few years.