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John M
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Well, hip-hip-hooray for Hanover. Too bad the cost of a nice, new home is still out of this world. I'm talking single-family homes, not townhouses where you're scrunched up against other people, have no yard or parking. To have an enjoyable living arrangement, you must risk bankruptcy and foreclosure, which is the route millions of Americans took the past decade. While all of this happened, developers and everyone else involved in the home sales were skinny-dipping in cash.
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Marodi
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John M wrote: Well, hip-hip-hooray for Hanover. Too bad the cost of a nice, new home is still out of this world. I'm talking single-family homes, not townhouses where you're scrunched up against other people, have no yard or parking. To have an enjoyable living arrangement, you must risk bankruptcy and foreclosure, which is the route millions of Americans took the past decade. While all of this happened, developers and everyone else involved in the home sales were skinny-dipping in cash. The only time you risk bancrupty and foreclosure is if you buy something that you can't realistically afford. This is what capitalism is, boom and bust. A constant never ending boom never happens. If you want to be safe from all these things, There are still a few communist countries you might be able to go to.
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Mea
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So this guy thiniks 6 months from now when gas is well over $4 a gallon people are going to commute from Aberdeen to Hanover?
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hanoverguy
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Living in the united states does not automatically entitle anyone to a free mansion. Those things have to be earned. People who are being foreclosed on now (for the most part) are not living within their means. Sure It's cool to show all your friends that you have the nicest house on the planet, but it only makes sense if you can afford to keep it.
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out of control
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Its not just people living outside of their means, its also the government forcing lenders to give people loans that wouldn't otherwise qualify for them......
Few people realize the amount of money the fed will let a big bank borrow from them based on how many loans they give to "minorities".
A big part of the "mortage crissis" was brought on by polical correctness and the fed holding loans and interest rates on those loans over the heads of the mortgage companies, and telling them the more loans you approve for minorities the more you can borrow and at lower rates.
Why do you think the government is so quick to "bail" out these lenders????
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John M
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out of control wrote: Its not just people living outside of their means, its also the government forcing lenders to give people loans that wouldn't otherwise qualify for them......
Few people realize the amount of money the fed will let a big bank borrow from them based on how many loans they give to "minorities".
A big part of the "mortage crissis" was brought on by polical correctness and the fed holding loans and interest rates on those loans over the heads of the mortgage companies, and telling them the more loans you approve for minorities the more you can borrow and at lower rates.
Why do you think the government is so quick to "bail" out these lenders???? I don't get why you bring minorities up... but I'm not saying I oppose your main point.
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Johnny
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hanoverguy wrote: Living in the united states does not automatically entitle anyone to a free mansion. Those things have to be earned. People who are being foreclosed on now (for the most part) are not living within their means. Sure It's cool to show all your friends that you have the nicest house on the planet, but it only makes sense if you can afford to keep it. Come on, don't be silly. Nobody expects a free mansion, you're just exaggerating. The "problem" is that families would like a place to live that is safe, clean, adequate, and does not require endless repairs and upgrades. Is that too much to ask for? Apparently it is, because the cost of a respectable home is outrageous and unaffordable. I don't get how the prices went so far up because our wages and salaries sure as heck didn't.
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out of control
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Because the programs were developed for minorities, thats why.
Ever heard of affirmative action? It penetrates everything government regulated....
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Judge it!
