Stop Blaming the Homeowners

[Elphaba]

Originally Posted by Kawazu

Even with all the news coverage, lately, understanding recent economic troubles can be a bit daunting. The below video describes key terms and outlines a few basic causes of our economic depression. Additionally, the video clip has been produced with professional quality. Enjoy. (Nonpartisan.) (Total running time: 12 minutes.)


YouTube - The Crisis of Credit Visualized - Part 1
YouTube - The Crisis of Credit Visualized - Part 2

Overall, I learned more from this than I have from watching the news.

I haven't seen Part 2, but I posted Part 1 in my OP of this thread. I hope others didn't miss it, because it is excellent.

Well, I guess the fact that you posted it here means people won't miss it, so all is good.

This video perfectly illustrates my point:

No one could have possibly understood everything outlined in this (these) videos, and it's absurd to have expected us to.

Elphaba

[Elphaba]

Originally Posted by bytor2112

Your comments have no basis in reality. You are a non stop campaign commercial for the Democratic party....seriously, do you even bother to research anything on your own, or do you just enjoy parroting the ignorant non sense from the left????

Bytor,

Do you not recognize you do the exact same thing?

Few people are as full of ideaology as you are. I readily admit I am one of them. But the fact that you' would rant at someone else, when you do the very same thing, is really bad form.

Elphaba

[RachelleDrew]

The families living on each side of us are losing their homes. My family is not, which is strange since we make far less than they do. By far less, I mean we make like 40 thousand a year and they make over 100 thousand a year.

Now how is it that we figured out to save our money and buy a house in cash instead of letting the bank get our hands behind our backs? We refuse to get loans and gamble with credit, yet we have to pay for their house anyway? Why didn't they sell their fancy vehicles if they knew they were having trouble making their house payments? Why didn't they disconnect the satellite television? Why didn't they pull their kids out of expensive private school? Why, why why?

It doesn't take a genius to figure out that if you don't have the money, you SHOULDN'T BUY IT.

I feel no pity for most people who lost their homes. It's one thing if you were truly doing everything in your power to save yourself from the situation, but for every five have-nots I will meet fifteen will-nots.

The lenders and the borrowers share equal blame in this one, and I shall continue to blame them. Although I don't so much care myself, because I actually *ahem* own my house, not the bank.

[BenRaines]

RachelleDrew, do you mean to tell me it wasn't the greedy bankers, stock manipulators, mortgage lenders who caused your neighbors to lose their house but it was living beyond their means? That is impossible. Everyone was to become millionaires by buying and trading, not living in, the houses. Notice I say houses because many were not bought to be their home, only a stepping stone to future riches.

Most of the people I deal with in Idaho have been in their home for ten years. Never had a hybrid mortgage or sub prime or any other exotic type of financing. Hard working, ethical people.

Ben Raines

[bytor2112]

Originally Posted by Elphaba

Bytor,

Do you not recognize you do the exact same thing?

Few people are as full of ideaology as you are. I readily admit I am one of them. But the fact that you' would rant at someone else, when you do the very same thing, is really bad form.

Elphaba

Oh, I think many people are as full of ideology, Elph. Jadams comments are not factually based and frankly they annoy me and believe it or not, it's not that easy to annoy me.

[talisyn]

Originally Posted by BenRaines

RachelleDrew, do you mean to tell me it wasn't the greedy bankers, stock manipulators, mortgage lenders who caused your neighbors to lose their house but it was living beyond their means? That is impossible. Everyone was to become millionaires by buying and trading, not living in, the houses. Notice I say houses because many were not bought to be their home, only a stepping stone to future riches.

Most of the people I deal with in Idaho have been in their home for ten years. Never had a hybrid mortgage or sub prime or any other exotic type of financing. Hard working, ethical people.

Ben Raines

You're in Idaho too? Cooooooool

I agree, most of the people in Idaho are pretty commonsense. There are some I wonder about though. If you've ever driven around Twin Falls and have seen those huge houses that sprung up like mushrooms the past couple of years like I have you have to wonder what are the jobs these people have that can afford those houses and why am I not working there

[Hemidakota]

Originally Posted by lestertheemt

I am not an investor nor am I financial savvy, but I do know that with any investment there is a risk. It is my understanding that before on leaps....one needs to be prepared for the fall.

Perhaps it is a good time rid of all debts and focus on eternal welfare of the family unit.

[bytor2112]

My father -in-law sent this to me:

Dear President Obama,
> > >> > Thank you for helping my neighbors with
> their mortgage
> > >> payments. You know the
> > >> > one's down the street who in the
> good times refinanced
> > >> their house several
> > >> > times and bought SUV's, ATV's,
> RV"s, a pool, a big
> > >> screen, two Wave
> > >> > Runners and a Harley But I was
> wondering, since I am
> > >> paying my mortgage and
> > >> > theirs, could you arrange for me to
> borrow the Harley
> > >> now and then?
> > >> >
> > >> Richard Ford
> > >> > Queen Creek AZ
> > >> >
> > >> > P.S. They also need help with their
> credit cards, when
> > >> do you want me to start
> > >> > making those payments?
> > >> >
> > >> P.P.S.
> > >> > I almost forgot - they didn't file
> their income tax
> > >> return this year. Should I
> > >> > go ahead and file for them or will you
> be appointing
> > >> them to cabinet posts?
>
>
>

[LittleWyvern]

> > >> > lol,
> stereotypes.

[Just_A_Guy]

FWIW, just Saturday I was talking to a guy who has been trying to refinance his house. The loan officer told him he'd have a better chance of doing so if he got behind 2 or 3 months on his current loan first.

That's ridiculous.