Whites Are Leaving MoCo As Well As PGC and Alex. (insurance, mortgage broker)

[EducatedBro82]

Which is why Maryland had a very high foreclosure rate...... PG has the highest which most of the homes were in Bowie, Laurel, Ft Washington, and Upper Marlboro.

[oldway]

Originally Posted by Collateral

Like I said: WANTS over needs.

Its less about being practical and more about looking rich.

Nothing wrong with that. Just be honest.

No there's nothing wrong with it, but I don't see it as try to show that I am rich. I view it as having nice things for the time and effort I put into my job. I am not sure why you think that having a nice house equates to keeping up with the joneses. I guess what I am saying is that the same money you spend on a small row house near capital hill or close in DC is the same amount of money you spend on a much larger house outside the district and the surrounding expensive neighborhoods. I would much rather commute than live in a smaller row house in the city. Like I said that just me.

[oldway]

Originally Posted by Collateral

People want to show off and have stuff they can't afford so they can say: "look at me!!"

This is why the economy collapsed.

There was a lot more To the market collapse than just people "showing off"

[Collateral]

Originally Posted by oldway

There was a lot more To the market collapse than just people "showing off"

Not really.

The collapse happened primarily because people purchased things they could not afford. This is also known as "Living up to the Joneses" AKA "Look at me!!" showing off.

The theory of the free market is that consumers will generally make rational economic decisions and thus the free market will function efficiently. Unfortunately, it seems that even in this digital age, misinformation abounds and spreads even faster than before.

Real Estate Agents tell you to buy as much house as you can afford, as it is an " investment" and moreover, your interest deduction will be larger if you borrow more. Both are flawed arguments and buying a huge house is a bad idea for most people.

Materialism is more than merely a shallow form of living or thought. It is also financially crippling as well. And yet most people in America are heavily in debt for material things, hoping that a fancy car or a new gadget will make them happy and impress their friends and provide them with status in the pack.

[dkf747]

Originally Posted by Collateral

Not really.

The collapse happened primarily because people purchased things they could not afford. This is also known as "Living up to the Joneses" AKA "Look at me!!" showing off.

The theory of the free market is that consumers will generally make rational economic decisions and thus the free market will function efficiently. Unfortunately, it seems that even in this digital age, misinformation abounds and spreads even faster than before.

Real Estate Agents tell you to buy as much house as you can afford, as it is an " investment" and moreover, your interest deduction will be larger if you borrow more. Both are flawed arguments and buying a huge house is a bad idea for most people.

Materialism is more than merely a shallow form of living or thought. It is also financially crippling as well. And yet most people in America are heavily in debt for material things, hoping that a fancy car or a new gadget will make them happy and impress their friends and provide them with status in the pack.

You forgot to include banks that pushed people to borrow more than they could afford.

[adelphi_sky]

Originally Posted by oldway

There was a lot more To the market collapse than just people "showing off"

That's what I thought. That's like saying crackheads are the sole reason for the crack epidemic and the dealers and producers are blameless. Yet there are a whole bunch of crack dealers in jail right now. Guess how many bankers are in jail.

[Collateral]

Originally Posted by dkf747

You forgot to include banks that pushed people to borrow more than they could afford.

We'll the idiots should of done the math and read the documents they were signing. Just because McDonalds gives you a coupon for a greasy burger that doesn't mean you have to buy it.

[adelphi_sky]

Originally Posted by Collateral

We'll the idiots should of done the math and read the documents they were signing. Just because McDonalds gives you a coupon for a greasy burger that doesn't mean you have to buy it.

The viability of financial markets weren't dependent on the sale of greasy burgers. Although the healthcare market may be.

[Collateral]

Originally Posted by adelphi_sky

That's what I thought. That's like saying crackheads are the sole reason for the crack epidemic and the dealers and producers are blameless. Yet there are a whole bunch of crack dealers in jail right now. Guess how many bankers are in jail.

That's a valid point. The bankers are not blameless. However, no one is responsible for what you spend your money on but you. I choose not to buy crack and so can others.

[adelphi_sky]

Originally Posted by Collateral

That's a valid point. The bankers are not blameless. However, no one is responsible for what you spend your money on but you. I choose not to buy crack and so can others.

I agree that people have choices. But its not that simple. There are people out there that, for some reason or another, will choose to smoke crack. Which creates a market for it. For years banks were dumping toxic products to willing partakers even though most of us refrained. But that small subset of "crackheads" was still enough to tank the market. If the banks never created the toxic products, sold them to the "crackheads", and then created their own insurance (credit default swaps) against those toxic products (betting that they would fail basically), the market wouldn't have tanked. Hence the bankers, crack lords and dealers in this sense, took the money and ran and left communities in the fallout.