Quote:
Originally Posted by lestertheemt
In many aspects I agree with you. Home ownership is a fine goal and one in which we should all obtain. However, not all of us can afford $300,000 to $500,000 (or more) homes.
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The problem with this is they bought these expensive homes thinking they were an investment, and why should they have thought otherwise?
My husband and I bought our home with one of these loans. When we sold it, we made a $50,000 gross profit, on paper anyway. We benefitted from one of these loans.
Millions of people benefitted from these loans. They were told a $300,000 homes was a better investment than a $90,000 home, and for a long time they were right.
I realize there is blame to share, but this incessant "why should I pay for your stupidity," ignores the real culprits.
I don't blame people for not wanting to pay for other people's mistakes. I get that. It's that their anger, and rage, is directed at the, for the most part, innocent people.
These people didn't want to fleece anyone. They didn't do this on purpose, and it is mean-spirited to keep at them when they are just decent people who were misled, and are in trouble right now.
Elphaba