michigan homes burn (Kalkaska: home equity loan, foreclosures, job)

[Bydand]

Originally Posted by TaxBait

You can't really read too much into average or even median home prices. That's easily skewed by the mix of home class/values sold. What I have seen in my neighborhood is that virtually every home bought within the last 5 years and resold has gone down, some as much as 10%. I have not seen a single home go up. Only one broke even (which is losing after real estate and closing fees). Most of the homes still listed are asking less than they paid.

I posted links to what I had to say. Lets see some others. I did NOT say the entire state was gaining ground, just some areas. Your area may still be in decline. It doesn't matter what they are selling for dollar wise really. There has been a slight increase in some areas of the state, was it enough to make up for the general loss of value in most areas? No, but it is a step in the right direction. In any matter, I was not looking at the median or average prices.

To keep it semi-on topic though. It doesn't matter if you have lost 95% of your value of your home. Arson is not the right way to deal with it. If you chose that route, I firmly believe you need to be responsible for the cost of the loss, cost of fire departments time and equipment usage, traffic control by the police department, and every other single penny spent and related to that choice. Plus a LONG time behind bars for endangering peoples lives. Rising or falling prices do not make a decision right or wrong; anybody that leans on that crutch is a social cripple who is selfish and self absorbed.

No argument about how hard times can be, or how desperate things can be will change my mind. I have almost lost everything, I have gone without meals myself so my kids had some noodles to eat for supper. I have fretted over putting a couple of dollars of gas in the vehicle so I can get to work, or some groceries so I could eat as well in the evening. Heat or lights, rice or noodles.... again, house payment or car payment; all decisions I have had to make for quite a while. Never did fraud enter my mind. Never did think about shirking my debts. Never did walking away from or burning down my biggest payment enter into the equation. I am average, not real religious, or overly concerned with what others think so if I didn't think it was a good thing, it isn't . A choir boy I am not, nor ever was.

[Driller1]

LOL, when I first began bidding on jobs, the patches on the seat of my pants were real. Not designer.

[Bydand]

Originally Posted by Driller1

LOL, when I first began bidding on jobs, the patches on the seat of my pants were real. Not designer.

Same boat here! Now, with lots of work, I can look back and laugh, but it took a LOT of work. If the easy way out had been taken, I would not be as far ahead as I am now, that is for sure.

[Coldjensens]

Everyone once did not have a house. they did not run around burning down houses and killing firefighters or neighbors because of it (most people anyway). So now that they managed to buy a house is it OK to burn down someone's house because they no longer own it? (the bank does).


these people should be prosecuted tot he full extent of the law and if someone dies they should be charged with murder. If someone is hurt, perhaps attempted murder.

Some people think that if their house was insured for $600,000 and the value has dropped to $380,000, they will get $600,000 for it if it burns down. This is not true with most policies. The house is insured for either market value or replacement value. The land is not insured at all so they get no compensation for the land which is what has really dropped in value. Thus these people are not only criminals, they are idiots.

[Cato the Elder]

Originally Posted by Bydand

Well, it looks like yet another troll for the ignore list. As soon as somebody backs up something you don't like, you turn to pitiful insults and lame redirects that have nothing to do with the thread topic.

Originally Posted by 1eyedjack

I think the original poster here is a trolling expert,is the same guy as driller2+driller3 that just keeps changing names.

Yep, it's one person - the same semi-literate doppleganger who styles himself a genius for having a dynamic ISP server which allows him to come up with a new handle whenever one gets banned. In addition to the characteristics you pointed out, look for poor grammar, poor spelling, and lame handles.

[baystater]

Look troll or not. Factual information or not. I think most people will agree Michigan is hurting in some spots. And yes people will lose there homes for one reason or another. Perhaps it a loss of a job because of the slump in auto industry or perhaps it foolish borrowing or Perhaps some other reason. And in the end some of the population will leave for better pastures. I wish them good luck and much success in the future. But this thing about arson. Well to be honest how is this helping those who are desperate in burn down their homes (or perhaps soon to be bank home.) Do they think they can get insurance money for their arson? Look a newbie fire inspector can sniff out arson. So if it money there after, it ain't going to work. Or perhaps as one poster put it there reasons for burning the homes are out of spite. OK so some people out there are angry and feeling bitter. But again I ask these people. What is burning your home going to do for them? Pretty much of nothing except possibly getting yourself tossed in prison. So I say to those that are thinking about scorching the earth. Ask yourselves are my action accomplishing anything? And what the the ramification to myself and more importantly to my family?

Look some you out there got a bad break. And yeah it sucks. But take a look at Ohio, Western New York State, Parts of Pennsylvania. They're somewhat in the same boat as Michigan. So your definitely not alone out there. Heck the nation as a whole is probably going to be going through some tough times for the next 3 years due to our economy correcting itself. So if it ain't working for your in Michigan just pull up roots if you can (which I know ain't easy) and try to find a better place for yourself. Don't ruin for the rest of the people of Michigan that can make it, by taking a scorched earth policy.

With that said I will reiterate what I said so many times before on this board. Michigan WILL be a very popular place to live in in the next 10-20 years. Yes right now in some areas of the state look as those they are going to fall off the earth. But they ain't. And more than likely some savvy people that live in this country will see the potential and opportunity Michigan has to offer and will take advantage of it. And I believe Michigan will go on to prosper as it had in past times.

[Rapunzll]

Originally Posted by anglehart

Arson Reports Up Amidst Foreclosure Mess

Here is one link to one news artical on the subject.
Your homes prices stats. are not to impresive and I do not believe that they reflect the trend down that the state is showing.
And yes I am a Democrat liberal, Your conservitive buddies in the white house have not done a bang up job have they. LOL.
Bush had the first part of his run with both sides of congress and he still screwed up the whole mess.

We are in a war that we were told we had to fight to stop weapons of mass destruction, wait did I say weapons of mass distruction, no its to stop alkaida from forming in Iraq, wait there is none in Iraq, its to give freedom to the Iraq people, funny how when the us went in to Iraq they did not portect any schools or hospitals, they went right for the oil fields and protected them. Funny thing aint it.
Funny how gas was 1.38 a gallon when Bush took office and now it is almost 4$ a gallon, funny aint it.
Funny how all his cabinet worked for big oil before they went to work for him funny aint it.
Yep those conservitives have sure done a bang up job. LOL
And I never said that people who burn thier homes should be given a free pass but the home situation in Michigan esp. is what people in law call a mitigating circumstance.

I have just three words for you, Bush Derangement Syndrome.

[malamute]

Originally Posted by anglehart

Arson Reports Up Amidst Foreclosure Mess

Here is one link to one news artical on the subject.
Your homes prices stats. are not to impresive and I do not believe that they reflect the trend down that the state is showing.
And yes I am a Democrat liberal, Your conservitive buddies in the white house have not done a bang up job have they. LOL.
Bush had the first part of his run with both sides of congress and he still screwed up the whole mess.

We are in a war that we were told we had to fight to stop weapons of mass destruction, wait did I say weapons of mass distruction, no its to stop alkaida from forming in Iraq, wait there is none in Iraq, its to give freedom to the Iraq people, funny how when the us went in to Iraq they did not portect any schools or hospitals, they went right for the oil fields and protected them. Funny thing aint it.
Funny how gas was 1.38 a gallon when Bush took office and now it is almost 4$ a gallon, funny aint it.
Funny how all his cabinet worked for big oil before they went to work for him funny aint it.
Yep those conservitives have sure done a bang up job. LOL
And I never said that people who burn thier homes should be given a free pass but the home situation in Michigan esp. is what people in law call a mitigating circumstance.

What about your governor? Why is Michigan worse off than states like Texas?

[kimnjim]

Originally Posted by malamute

What about your governor? Why is Michigan worse off than states like Texas?

I was wondering the same thing... (...in 5 years you'll be blown away!!!)

Seriously though, when I was a kid, my house burned totally. I would not wish that on anyone, and can't even fathom doing it to yourself. Our neighbor's house just burned (blew up actually), and it scared the crap out of me. I thought they were home, but they were gone on vacation. I don't care how bad off you are (and I'm not doing that great), THAT is NEVER an option. It's too easy to go wrong, get you or someone else killed, and just plain stupid. If you had kids, that would be even more dumb, to risk not ever seeing them again, because you messed up or went to jail.

[wanderer74]

Originally Posted by malamute

What about your governor? Why is Michigan worse off than states like Texas?

I'm not defending the idea of arson AT ALL, but are you asking this seriously? Michigan is way worse than Texas in terms of employment. I used to live in Dallas/Fort Worth and am thinking of returning in the next few months. I still have friends in all parts of the state who say that things have slowed down a bit in the past 10 years and there have been more foreclosures, but the crisis is nowhere near the MI level. I'd venture a guess that what's different about the foreclosures in MI causing more desperation here is because it's accompanied by losses of income and employment. Based on my own former experience living in TX, I'd venture a guess that more of their foreclosures are due to overspending catching up with them when gas costs increased and easy home equity loans dried up.

FWIW, though, the original CNN report the OP discussed wasn't about Michigan at all, just about some desperate homeowners resorting to this in general:
Will subprime spark an arson boom? - Jan. 10, 2008