|
lostinseganet (November 30, 1999 at 12:00 am)
Predatory lending destroyed those who put too much trust in people to be honest.
tellthetruthh (November 30, 1999 at 12:00 am)
HISPANICS were the major group to hold SUBPRIME LOANS. HISPANICS were given loans when other groups could not get them. Now they want to be bailed out of their mess!!!If they weren't so greedy they would not be in this situation. Most of them didn't even have SSN oe EINS.Now BUSH has made it possible for them to get bailouts without SSN or EINs!!! S0illegals aliens are milking the system again!!! While Americans pay the bill!!!
Joyriser (November 30, 1999 at 12:00 am)
The investors and property developers create a vastly over inflated house price market.Then the "creative accounting" economy creates a situation where employers pay staff as little as possible for their work! Ideally they move jobs to China so they can make even more profit! Therefore you create a two tier market where good people cant afford a small home! Of course the sub prime market went up! They couldn't face the guilt and political embarrassment of telling the truth!
ofInterestNZ (November 30, 1999 at 12:00 am)
Now that the volumes of home sales is down around 30-40% each month from a year ago, you'd expect a good number of those agents to chuck it in.
They rely on commissions for most of their income so fewer sales means lower income. You'd have to expect a good 5000 to 6000 would leave the industry in the next couple of years.
The other angle here is that mortgage brokers will also feel the pain. Most of their business is generated by real estate deals.
MTXSHO9732vV8SHO (November 30, 1999 at 12:00 am)
COMMON SENSE
Do You need it? Yes, continue to next question. No, STOP.
Can You afford it? Yes continue to next question. No, STOP.
Should you buy it at it's current price? Yes, welcome to the homeowner's club! No, it is overpriced!
Apparently, these 3 questions are too hard to figure out. No need to wonder why the US of A is such a mess; the consumers are just as stupid as the politicians and lawyers criminals.
LMAO! Now GIVE me your house! LOL! C Ya Monopoly Guy! LOL, LMAO, LOL
Psychogenius018 (November 30, 1999 at 12:00 am)
The subprime schister shenanigans are merely symptomatic of the real problem which is the Federal Reserve crime syndicate dictating artificially low interest rates instead of allowing the market to determine them. They sucker everyone in with low rates then they pull the rug out from under them. THEY ARE THE ONES PROFITING FROM ALL OF THIS!!!!!!
njmarkca (November 30, 1999 at 12:00 am)
In my opnion this run up in real estate value was created, on purpose and unwittingly by the fed gov. Unwittingly when the Clinton admin made the first $500K of home profit not taxed. On purpose by Greenspan to avoid an even worse fate, a deep depression with price deflation. Monetary policy, purposely encourgaed real esate investmenting in an attempt to aviod a catastophy casued by the tech melt down of 2001/2002. It worked for 5 years. This is all related to globalization and corp greed.
nobodybidness (November 30, 1999 at 12:00 am)
Nice attempt at a recap, but, not quite.
The very financing vehicles described are what drove housing prices up to begin with. Buyers with no credit, down payment or job bring no value. The lenders have been buying 30% of the houses over the past four years. Now it has to shake out.
But I'm glad you thought it was predictable.
Next crisis: 8 million mortgages to illegal aliens and a country hell bent on deporting the payors. Stay tuned, folks.
zecamel8 (November 30, 1999 at 12:00 am)
Rowdy forgot to add that the subprimers were boning their investors cause they were making fortunes on commissions. This whole mess has been created by greedy unsavory R/E agents, brokers, loan officers, banks, and get rich quick buyers. It reminds me of Puff Daddy and his drug crazed homies...just plain vanilla stupid.
ubornthick (November 30, 1999 at 12:00 am)
Rowdy could you redo your post without the euphemisms |
