I don't know, Dom, idiot, I am not sure I would throw that word around since you didn't even know the problem existed... Just a little advice...

Income never keeps up with Inflation. Fix Inflation and people would stop going bankrupt..

Also, remember people. A house is not an asset. It is a liability. Rent till you can afford to buy a home.

You do not need to live in an expensive house. What you need more is extra money for when you retire. People are going to become pariahs on our Social Security System, because people do not make wise financial decisions. All at the expense of people like me who save money and invest in Gold and Silver.

I'll have something saved when I retire, I doubt careless people who live off of Mortgages, Loans, Credit Cards, and such will.

__________________
"It is the Right of the People to alter or abolish the Government"
Declaration of Independence
"Never trouble another for what you can do for yourself."
Thomas Jefferson
"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand."
Milton Friedman

A lot of people pay a fortune for rent, especially in the bigger cities... A lot of these families don't see any light at the end of the tunnel taking this route...
They feel that the only way they can "brighten their future" is to invest in the American dream and buy a home... It's the desire to live this dream that drives a lot of poeple to the first home purchase... It's a sad scenario for any family that lost their home due to their family income wasn't sufficient enough to continue living this dream...

Agreed. Around where I live, there are very few places to rent and the prices are extremely high. Buying is still much more affordable then rent.

__________________
http://nwyc.com/
National Write Your Congressman

Yeah, n00b...that must be it.

How the hell would I know, anyhowz....I IS one a them dumb redstate hicks without I got a trustfund like y'all!

Yep...that's it, Bush was DIRECTLY involved in the "crisis." Just like he was in 9/11. And hell, he did turn his hurricane machine on NOLA.

So sure...that just makes sense.

Yeah, that's what it did alrighty-roo! I shore am glad Ise run into a economomical genyus like youse to help me see th' light!

Everyone with a brain in here: THIS is what we are up against.

Tokie

OMFingG.

These are ILLEGALS you nOOB!



A:First, they don't have a right to be in AZ in a tent or anything else.

2. who gives a damn if illegals live in tents, toilets or in the gutter?

D. Are you stupid or is it that you believe we are and so you can just say anything you want and we'll say "garsht! I guessd he's right as rain thet thar brainy, edjamakated feller!"?

Now, please provide what I ASKED for: a link to a newspaper story from the NYTimes, the LATimes, the Denver Post, the Boston Globe, the Chicago Trib, the Seattle Times-Intelligencer, or to some story from ABC, CBS, CNN, NBC or hell, even Fox, showing a tent city filled with people driven from their homes by GW Bush'se eeehhhhhvvvviiillllllll failed economic policies?

Today, please?

Tokie

Sheesh.

Which can only mean one thing: people are unemployed and the economy is collapsing!!!!

Run!!! Hide!!! Wave your hands over your head and scream "TEOTWAWKI!!!"...before getting that second venti soy latte with extra non-fat soy milk foam, three shakes of cinamon sprinkles and a bendy straw.

Tokie

Yes, that is sad. It was sad in 1927, in 1937, in 1947, in 1957, in 1967, in 1977, in 1977, in 1997 when it happed, and now again it's sad in 2007.

Let's all take a moment to feel sorry for these people.

And all those who similarly lost their homes in all the years between the first time someone loaned someone else money to buy a home and 20 minutes ago.

There. Now I feel better. Don't you?

Tokie

Move somewhere else if you can not afford the rent or apply for Charity. There is always options...


You could do the intelligent thing and not have Children or get married till you can afford it. Life is indeed about personal responsability. If you do not have the means to afford something, do not buy it.

__________________
"It is the Right of the People to alter or abolish the Government"
Declaration of Independence
"Never trouble another for what you can do for yourself."
Thomas Jefferson
"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand."
Milton Friedman

Whether buying a home via a mortgage is an asset or not depends on local, long-term market conditions.

Had you purchased a 1/2 acred vacant lot with a beach view in a relatively little-known place called "The Hamptons" in Long Island, NY in say, 1970, and held onto it, you would today be able to retire to the Bahamas on what you could sell it for.

Back in the mid-80s, I had the opportunity to buy a 1000 s.f. condo going up in the middle of Aspen, CO. I was a dummy, and took a pass. The price then was something just under $200k. Today, that same condo would sell to any Follywoodista or those who wish to hang about with same, for something near $1.7 mil. Since I don't ski, can't stand spending $34 for a small coffee and a donut and hate Follywoodistas, I would probably never have set foot in the place, but would have, after about 1990, when the Follywoodistas "discovered" Aspen, been able to rent the thing out for from $800 (1985) to $5,000/night (today).

I think that would've been a pretty good investment.

So your blanket assertion is full of shit and indicates that you know little about real estate.

Tokie