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Old 12-21-2007, 08:34 PM
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Default The New America... Tent Cities...

You are driving your family across the country--in route to tent city--it's not a vacation... Tent City is not, as might be expected, in a blighted city center, but in the once booming suburbia of Southern California...

As more and more and more families throw in the white towel and head for foreclosure in California and across the nation, the social costs of collapse are adding up in the form of higher rates of homelessness, crime and even disease...

Will the next President be able to save America?
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Old 12-21-2007, 08:54 PM
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Originally Posted by Flyhigher View Post
You are driving your family across the country--in route to tent city--it's not a vacation... Tent City is not, as might be expected, in a blighted city center, but in the once booming suburbia of Southern California...

As more and more and more families throw in the white towel and head for foreclosure in California and across the nation, the social costs of collapse are adding up in the form of higher rates of homelessness, crime and even disease...

Will the next President be able to save America?
No President can save people who make stupid choices. The only people dumber than those who bought a house, with an adjustable rate mortgage, are those who bought a car under the GM "smart buyer program" (I think thats what they called it when making minimum payments for three years, then a balloon payment of more than the original cost of the car).

Anyone who bought a house, with a resulting payment (including principle, intrest, insurance, and taxes) greater than 1/3 of their monthly take home pay is just asking to lose everything, and that assumes a 30 yr. fixed rate mortgage.
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Old 12-21-2007, 08:58 PM
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We had a tent city in our town that was recently evicted. No clue where they all went.
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Old 12-21-2007, 09:00 PM
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Originally Posted by Teak View Post
No President can save people who make stupid choices. The only people dumber than those who bought a house, with an adjustable rate mortgage, are those who bought a car under the GM "smart buyer program" (I think thats what they called it when making minimum payments for three years, then a balloon payment of more than the original cost of the car).

Anyone who bought a house, with a resulting payment (including principle, intrest, insurance, and taxes) greater than 1/3 of their monthly take home pay is just asking to lose everything, and that assumes a 30 yr. fixed rate mortgage.
I agree for the most part, but I do think there are some dumber people than those you llisted, such as those that think America will have tent cities.

You are correct, most of the problem is people who bought something they couldn't afford. But it is also the guys who lended them the money who are at fault for the overall picture. What has happened is the foreclosures of people's homes who shouldn't have been able to get the loan in the first place has made the home value of many other homes go down in value, which does effect a lot of other people. The only people it benefits right now are buyers, sellers are not liking it in some places at the moment.
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Old 12-21-2007, 09:02 PM
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Originally Posted by oceanbreeze View Post
We had a tent city in our town that was recently evicted. No clue where they all went.

I think they came to a town near me some time ago, by chance was there a bearded lady living there and some guys selling funnel cakes?
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Old 12-21-2007, 09:07 PM
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I think they came to a town near me some time ago, by chance was there a bearded lady living there and some guys selling funnel cakes?
Too funny.

Did they mumble something about one being born everyday while leaving town too?
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Old 12-21-2007, 09:08 PM
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No President can save people who make stupid choices.
Like joining the military.

The military is only recruiting pussies like smitty and dum1 anyway.
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Old 12-21-2007, 09:08 PM
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OH NO

SOMETHING TO "WORRY" about :-I

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YouTube - SHEEP WORRIER TWO - SEE THE OTHER EPISODES NOW!

^I^
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Old 12-21-2007, 09:32 PM
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Originally Posted by Dom1 View Post
I agree for the most part, but I do think there are some dumber people than those you llisted, such as those that think America will have tent cities.

You are correct, most of the problem is people who bought something they couldn't afford. But it is also the guys who lended them the money who are at fault for the overall picture. What has happened is the foreclosures of people's homes who shouldn't have been able to get the loan in the first place has made the home value of many other homes go down in value, which does effect a lot of other people. The only people it benefits right now are buyers, sellers are not liking it in some places at the moment.
Dom, maybe you are living under a rock if you don't see what is happening...
Tent cities are a reality, and they will become part of the landscape of every major city within the next year or so... California, Ohio, Illinois, Texas, Florida,
all have more than 200 tent cities... Maybe you can try reading the paper, or maybe watch CNN, or maybe do a little research before you make such an ass out of yourself...
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Old 12-21-2007, 09:39 PM
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Originally Posted by Teak View Post
No President can save people who make stupid choices. The only people dumber than those who bought a house, with an adjustable rate mortgage, are those who bought a car under the GM "smart buyer program" (I think thats what they called it when making minimum payments for three years, then a balloon payment of more than the original cost of the car).

Anyone who bought a house, with a resulting payment (including principle, intrest, insurance, and taxes) greater than 1/3 of their monthly take home pay is just asking to lose everything, and that assumes a 30 yr. fixed rate mortgage.
Teak, these families were given the chance to truly live the American dream--pool and all included, and a lot of people took the bait... Some of these families have lost their entire life savings, and I think that it's more than bad decisions... The blame must go back to the lenders, hence they had all of the credit information on all of these families and they must have seen this coming...
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