Let us be politically correct in writing (moved) (unemployment rate, insurance, national debt)

[New home owner]

Let us be politically correct in writing ? Oh ..... Ok, got it.

Ummm, let us see,

1. Arrange the NINJA loans ( no income, no job) , create a realestate bubble 2.0 by lending at lower interest rates and luring them to buy big new houses over 500k plus.

2. Lay them off by outsourcing, offshoring etc.,. Those who actually could have afforded otherwise for less money and put them in a situation where they are forced to foreclose. correct ? Wow, great!

3. People are tempted and falling for the trap with ignorance of national debt, unemployment rate, job growth, lack of insurance, 52 million on food stamps, hyped up stock market destined to free fall resulting in a chaos very soon.

4. What will be the resale value if you want to sell your brand new 500K + value home for any unforeseen reason? Is any body thinking that or are we living in a day dreaming still like last bubble?

5. So one should know that you are investing in a home which is loosing value where as it should be other way around.

6. Banks are holding more than 2 million foreclosures and once they drop them in the market what is your 500K home worth? Umm.... Some thing I am not thinking, I am in amnesia r in my imaginary world.

7. Land is plenty available so would you think U'r home is going to appreciate in few years? Especially when U lost your job? Wow!

8. Finally, when U set up your goal to fail, which is buying with temptations, U are bringing down other genuine people who could afford for less money that same 500k home.

Prices go up for no reason, then we all end up loosing again.

Before, U buy, consider the single most factor of our time that is " resale value in that location ". Period. Do not listen to anyone but self.

Good luck, do your realty check!

Moderator cut: Political issue moved from Local forum