Off-Topic: That is the problem

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	Name:	water_watcher -
	Subject:	That is the problem
	Date:	1/27/2010 6:36:04 AM

with the liberal view that everyone should own a house and if they can not afford it, we should help them with zero down (sometimes even give them case with negative equity to start out), super low rates that add to principal (rather than reduce) in the early years.

The belief was home prices would always go up and everyone should jump on.

They thought about it as quick money, rather than having the safety and security of a home.

I blame government with all their programs like CRA.

Most of us came from the days, like our parents, that you needed 20% down and you saved so you could get that first home.

So when things blew up ... there was so many people that had no money in the home, so they did not think twice to walk.

The sad part is ... there is talk now to wipe that off their credit record so they are not restricted from buying another home for 7 years until it falls off.

We really need to start blaming the individuals and not just wall street. Government programs created the opportunity on wall street ... but individuals greed was as much to blame as wall street greed.

Other messages in this thread:

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What do you think? - Talullahhound - 1/26/2010 8:30:08 PM

What do you think? - wix - 1/26/2010 8:33:57 PM

What do you think? - GoneFishin - 1/26/2010 8:41:12 PM

What do you think? - Summer Lover - 1/26/2010 8:51:01 PM

What do you think? - lotowner - 1/26/2010 8:56:05 PM

That is the problem - water_watcher - 1/27/2010 6:36:04 AM

Maybe I wasn't clear - Talullahhound - 1/27/2010 7:52:35 AM

Maybe I wasn't clear - MrHodja - 1/27/2010 8:24:14 AM

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