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Old 08-19-2010, 01:09 PM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,342,958 times
Reputation: 21891

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The great deppresion lasted nearly a decade. We are allready 3 years into this mess. I bet things don't change for many years.
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Old 08-19-2010, 01:14 PM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,342,958 times
Reputation: 21891
Quote:
Originally Posted by KC6ZLV View Post
It is attitudes like this that really make me concerned about the future of this country. Unfortunately, it seems to be more the norm than the exception.

Nobody forced anyone to pay $400,000 for a house. Real estate was never guaranteed to continually appreciate, and because the prices went down doesn't make it ok to walk away from an obligation you agreed to pay for.
Maybe so, and I wasn't one of those that bought a home and is hurting now. It does seem to be the attitude of many. Others are asking for the government to get them out of the mess they are in. My thoughts are that you buy a home to live in. The problem is that during the bubble years people were buying a home as a way to finance their toy purchases. I know people that bought homes and were able to refinance and buy boats, hummers, take trips, or live like they were wealthy when the real deal was the value of the home went up. They may or may not still have the toys and some of them have walked from the homes. I know one guy that walked from one home, but not before he bought another for half what the first cost. Not something that I agree with but it happens all the time.
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