Quote:
Originally Posted by aneftp
... we still have 80-85% of people still paying their mortgages on time.
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What makes you say that?
Are up to 20% of people
not paying their mortgages on time?
I seriously doubt that even up to 10% of mortgagors are
not paying on time.
I seriously doubt that the percentage is even 5%.
Quote:
Originally Posted by middle-aged mom
Sounds like some of the speculators were able to time the market well.
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I really doubt that.
If a speculator made $100k on a no-work-flip then what did
they do with that money? Invest it in bonds? I don't think so.
They flipped two the next time and kept doing it till they crashed.
The only people who timed it right are those who were not looking
to make a killing and just bought another house for the same reason
people always have; downsize/upsize/new job/etc./etc./etc.
Likewise, most of the people in an underwater house right friggin' now
were just doing the same thing; downsizing/upsizing/new job/etc./etc./etc.
People that talk like
they knew the market was going to crater are just delusional or liars.
Quote:
Originally Posted by middle-aged mom
When that commitment is made on the basis that home values
will increase at double digit rates thereafter, is magical thinking.
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Why do you keep dredging up this logic?
Just what percent of the people still living in their underwater house do
you think bought it for that and what percent were just doing the
downsizing/upsizing/new job/etc./etc./etc. thing?
Say it; what percent were irresponsible jerks that deserve it?
Based on this continual blame game posting, I'd guess you'd say 90%.
( This should probably be a poll. The results would be interesting. )
Homebuyers were not speculating on real estate, in general. Houses went down in value
because the market was
driven too high by the people who
DID get bailed out.
I invest in the stock market and look for price-points and expect to lose money some of the
time. People buying their home to live in, do
NOT have any reason ( at least they didn't )
to expect it to go down in value. There are not supposed to be price-points for your house.
Acting like they "should have known better" is really really arrogant --
spoken like the banker who just got their $million(s) bonus(es).