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Old 04-15-2010, 10:35 PM
 
Location: Earth
24,629 posts, read 26,547,077 times
Reputation: 11372

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Quote:
Originally Posted by GLS View Post
You are confusing Socialism with Robin Hood. Socialism is not redistribution "from the rich to the poor". It is redistribution of money, i.e. power from private enterprise to the government. The "rich" are openly targeted, the votes of the "poor" are bought, and the "middle class" is silently bled.
Obama is CLEARLY a SOCIALIST.
How did the banks and mortgage industry do with that "Private Enterprise" model?
Personally, I'm for more regulation.
Interesting opinion, mine differs.
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Old 04-15-2010, 10:35 PM
 
Location: Imaginary Figment
11,456 posts, read 13,570,425 times
Reputation: 4776
Quote:
Originally Posted by hawkeye2009 View Post
It appears as though the "prosperity" of the Obama administration is reserved for his Wall Street cronies. While the stock market has broken 11,000, more and more homes are broken and unemployment remains at nearly 10%. This is change we can believe in .

Foreclosure rates surge, biggest jump in 5 years - Yahoo! Finance (http://finance.yahoo.com/news/Foreclosure-rates-surge-apf-35024429.html?x=0&sec=topStories&pos=2&asset=&ccod e - broken link)=
Does anybody honestly believe that this is BECAUSE of Obama? Anybody who has the capacity to be honest with themselves can see it's not.

It's really funny though, some of you guys will go as far back as Jimmy Carter to assign blame to the housing bubble. The next day they blame it on the current Dem President.

We've got a long long way to go with our economy and our housing. That too is not a difficult concept to grasp. Assuming of course, you have the capacity to be honest with yourself. Which it appears many here do not.
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Old 04-15-2010, 10:40 PM
 
Location: Earth
24,629 posts, read 26,547,077 times
Reputation: 11372
Quote:
Originally Posted by newonecoming View Post
It only lasts for 7 years. And good credit is over rated
I'll disagree with you on that point.
Bad credit = higher interest rates for all purchases. That would include homes, vehicles, credit cards.
You end up paying for messing up.
I feel bad for those who have destroyed their credit based on medical requirements and out of pocket expenses.
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Old 04-15-2010, 10:44 PM
 
1,842 posts, read 1,606,687 times
Reputation: 169
Quote:
Originally Posted by chielgirl View Post
I'll disagree with you on that point.
Bad credit = higher interest rates for all purchases. That would include homes, vehicles, credit cards.
You end up paying for messing up.
I feel bad for those who have destroyed their credit based on medical requirements and out of pocket expenses.
Your assumption is for credit purchases, save up and buy stuff with cash
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Old 04-15-2010, 10:52 PM
 
1,842 posts, read 1,606,687 times
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well we knew that the banks were going to try to cash out when the market came back up with the "stilulus money" So now the are and it will drive the home prices down again.
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Old 04-15-2010, 10:55 PM
 
Location: Earth
24,629 posts, read 26,547,077 times
Reputation: 11372
I believe two other people beat you out on foreclosure threads.
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Old 04-15-2010, 10:55 PM
 
2,930 posts, read 6,584,645 times
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I know a lot of people who lost their homes or are losing their homes.

They all acted irresponsibly and just decided to live rent free for a year or two. Some are buying properties under other relative's names. Others are gonna rent but are spending away the money they are not paying in housing on other stupid purchases.

So much for all those sobbing stories about unemployment causing the foreclosure crisis. Try the housing bubble instead.

The market has to adjust and most of those people that overpaid for their homes will lose their homes as it's the most logical thing to do. New people will buy at reasonable prices and the market will go back to normal... might take 5 or 10 years to do so. By then Sarah Palin should be president and building more bridges & roads to save the country.
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Old 04-15-2010, 10:58 PM
 
1,842 posts, read 1,606,687 times
Reputation: 169
Quote:
Originally Posted by ♥♥PRINC3Ss♥♥ View Post
I know a lot of people who lost their homes or are losing their homes.

They all acted irresponsibly and just decided to live rent free for a year or two. Some are buying properties under other relative's names. Others are gonna rent but are spending away the money they are not paying in housing on other stupid purchases.

So much for all those sobbing stories about unemployment causing the foreclosure crisis. Try the housing bubble instead.

The market has to adjust and most of those people that overpaid for their homes will lose their homes as it's the most logical thing to do. New people will buy at reasonable prices and the market will go back to normal... might take 5 or 10 years to do so.
Japan is still working on their bubble 20 years later.
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Old 04-15-2010, 10:59 PM
 
Location: California
33,916 posts, read 37,455,952 times
Reputation: 30505
Quote:
Originally Posted by ♥♥PRINC3Ss♥♥ View Post
I know a lot of people who lost their homes or are losing their homes.

They all acted irresponsibly and just decided to live rent free for a year or two. Some are buying properties under other relative's names. Others are gonna rent but are spending away the money they are not paying in housing on other stupid purchases.

So much for all those sobbing stories about unemployment causing the foreclosure crisis. Try the housing bubble instead.

The market has to adjust and most of those people that overpaid for their homes will lose their homes as it's the most logical thing to do. New people will buy at reasonable prices and the market will go back to normal... might take 5 or 10 years to do so. By then Sarah Palin should be president and building more bridges & roads to save the country.
I agree that it was the bubble, not unemployment, that got us to this point. People loose there jobs, and houses, all the time. But the large scale of the current situation is mostly because those ARM's reset and home values declined.
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Old 04-15-2010, 11:02 PM
 
1,842 posts, read 1,606,687 times
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Quote:
Originally Posted by chielgirl View Post
I believe two other people beat you out on foreclosure threads.
yip
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