Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-14-2011, 01:28 PM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,213,588 times
Reputation: 10428

Advertisements

Quote:
Originally Posted by Gunluvver2 View Post
************************************************** *******
Correct me if I am wrong but wasn't it out of control rising housing costs that caused the bubble to burst and result in the current recession/depression?

GL2
Well, prices were rising out of control because banks were loaning money to people who couldn't afford to pay it back, or to people who didn't understand what an ARM loan was.
Reply With Quote Quick reply to this message

 
Old 10-14-2011, 01:49 PM
 
Location: In The Thin Air
12,566 posts, read 10,610,184 times
Reputation: 9247
Quote:
Originally Posted by davebarnes View Post
I believe it is their call center.
Reply With Quote Quick reply to this message
 
Old 10-14-2011, 06:28 PM
 
Location: Nebraska
4,530 posts, read 8,860,391 times
Reputation: 7597
Quote:
Originally Posted by denverian View Post
Well, prices were rising out of control because banks were loaning money to people who couldn't afford to pay it back, or to people who didn't understand what an ARM loan was.
Just the opposite don't you think? Because of lax credit standards there were more buyers competing for available houses so the price goes waaaay up. Several years later there are thousands of owners upside down on their loans so they default and there is a SURPLUS of houses on the market and NO buyers. Prices drop. Like a rock. To exacerbate the problem NOW banks require larger down payments meaning even fewer buyers and a drop in prices. Catch 22?

GL2
Reply With Quote Quick reply to this message
 
Old 10-17-2011, 09:02 AM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,213,588 times
Reputation: 10428
Quote:
Originally Posted by Gunluvver2 View Post
Just the opposite don't you think? Because of lax credit standards there were more buyers competing for available houses so the price goes waaaay up. Several years later there are thousands of owners upside down on their loans so they default and there is a SURPLUS of houses on the market and NO buyers. Prices drop. Like a rock. To exacerbate the problem NOW banks require larger down payments meaning even fewer buyers and a drop in prices. Catch 22?

GL2
I think I'm saying the same thing as you
Reply With Quote Quick reply to this message
 
Old 10-17-2011, 06:29 PM
 
Location: Nebraska
4,530 posts, read 8,860,391 times
Reputation: 7597
Quote:
Originally Posted by denverian View Post
I think I'm saying the same thing as you
Sorry Denverian. I read the posts again and you are right, we are on the same page. I must have been in caffeine deficiency when I posted.

GL2
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top