This is an interesting article. I like the line âNo type of national bailout will replace that lost equity.â http://news.yahoo.com/s/ap/homeownership_myth;_ylt=AiGZiEJyonhSlC_MAyVGR3gGw_IE
Just another example of govt breaking principles for votes(Cal/Fl). This is incredible...........I couldn't sleep last night.
Yep Yep. I'm disgusted at the US and how it rewards losers and those that make bad life decisions. Financially and crime wise as well. Those of us with morals and attitudes of responsibility get $hat on left and right while those that fear no consequence have that feeling for a reason. The've been shown that they can do wrong without fear of punishment or reprecussions. What's a good country to move to though, that is the key question. LOL
This will have to revert back soon and yes some will actually make out. Fed does not want to risk economic downturn. Perhaps this may even spark the housing bottom. Edit: Accumulate Low and Sell High.
They are not rewarding the idiots, that just happens to be a side effect. The reason this is happening is that the whole financial system is teetering on collapse, and the fed is scared shitless thus pulling out all stops.
This whole mess is BULL#%$ As long as everyone MAKES money, no one gives a rats azz as to HOW its made, legal, illegal, doesn't matter, just "show me the monaaaaaaaaaayyyyyyyy" But the SECOND the house of cards falls, EVERYone is screaming lawsuit, investigation, inquiries.... The fact of the matter is, the popping of ANY bubble must be allowed to occur, to let the MARKET go where it MUST go, and not interfere with the process. The real estate market and the financial markets NEED the cleansing that should be allowed to occur naturally.....and that means LOSSES MUST BE BOOKED AND TAKEN, PERIOD. Whatever happened to taking responsibility for your actions!?!?!?! Wouldn't it be nice, if......every trade you made was guaranteed not to lose......that as long as you were showing a profit, the trade was officially booked.....but the second it became a losing trade, it automatically was erased from the system? Hmmmmmm, where have I heard of that before........that's right, its the rules for how to pop a real estate bubble......reward all the greedy bastards from the very bottom to the very top in the the real estate market for anyone who was involved in the spider web, from: 1) the Fed driving interest rates ridiculously low, fueling cheap money bubbles in every market 2) to the individual real estate speculator, investor, flipper, living beyond their means people that bought the properties under the greater fool theory that prices only go up, 3) to the mortgage companies that underwrote the loans with a total disregard for underwriting standards and the ability to repay 4) to the investment banks that pooled those loans and sliced and diced the cashflows into fixed income securities and products 5) to the rating agencies that assigned them investment grade ratings 6) to the insurance wrapper companies that made the high ratings possible 7) to the hedge funds, money managers, mutual funds, banks, credit unions, insurance companies, pension funds etc that purchased the products created by the Street And now they are ALL crying fowl, demanding restitution.....but all was fine as long as they were MAKING money. The game IS rigged.....because the government refuses to let the markets go where they MUST go.