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I'm soooooo glad we moved out of there....even after loosing enough to put 3 kids through college!
It's so funny that throughout the article the one name that constantly gets thrown under the bus is the current President. When we brought him into office the economy was failing and we asked him to clean it up, but if smart people thought about what they said before they decided to write articles they would also notice that it takes only a couple of months to completly ruin credit scores for individuals and then takes those individuals YEARS to fix what they turned to isht.
What is the difference with the housing communities and everyone who is being slammed by a failing economy? It took literally a couple months for people to realize that we were going from good to bad to horrific but it's been going on for quite sometime. Now all of a sudden after we have hit the dirt and cannot stand on our own two feet and most homeowners are renting now we look for this ONE man to turn everything around overnight. Give me a break.
He is not the problem, until people stop pointing fingers at the easiest target we will never get to the root of the problem.
It takes a bit of logic and to be well traveled for one to pick apart any one of these article that are written by complete morons that never graduated from journalism school and never got out in the field to do their research!
These idiots are also writing for financial tabloids and don't have any idea of what they are talking about.
And we have someone like Bernanke who really has no clue what he is saying. and no one knew what in hell Greenspan was saying either. Not sure if HE even knew what he was saying but he was the figurehead that the financial world was listening to. This clown should have been nailed a long time ago! The SEC has no clout and is not protecting the investor. It just runs around in its TuTu and simply slaps these thieving banks and Wall Street brokerages on the hand with a pitiful fine and lets them go on their merry way to start the scamming all over again. Congress does nothing.
I think it's time for something to happen............................just when.........who the hell knows?
I'm sure many will agree that banks are not very forthcoming with mortgage loans. Nobody wants to take risks anymore. Laid out in front of us, is a future of doubt and concern for everyone, but is the government implementing effective long term solutions to our failing economy? As time goes on, the banks will be foreclosing and the idea of borrowing any money will disappear. So let the banks continue to do business as usual, destroying people's dreams and inheriting all those property taxes. In due time, the banks will go broke..........and then the rich will be asked to loan their millions to rescue the banking industry......because by then, there will not be a middle working class left to squeeze anymore.
Shame on this government for allowing this country to faulter.......a country founded on freedom and collapsing with greed. I guess being a proud American is soon becoming a "thing of the past"
Stop blaming everyone on wall street, hello there all crooks anyway.
Stop pointing at Washington, again all crooks.
Guess what, we'll have a better day and the market will return (perhaps a more honest one). But next time folks, let's not bite on the, no down, one-percent interest rate, stated income Mortgages.
iowa....I think your over generalization on up scale housing doing well is a relfection of your biases, not data.
Around chicago there are plenty of .5-1.5 Mil homes going at half price if you want some, and I think the 100K to 200K ones starting to do OK again.
MSN censored a prior post that I read this morning on the commentary. This is even more disturbing...it is okay to slander the president continuously but to mention that the top national banks are asking for ridiculous standards for mortgages gets censored??
BTW, the specifics were: the broker had a family that was declined because the bank asked for 6 lines of credit as verification for a loan on a mortgage and another where a SS recipient was asked for medical records and for proof of 3 years of future income for final approval. Perhaps these were the facts that incited the censorship?? fine. use the words "alleged" but I happen to have a ding letter like that in my office from a top national bank.
the media throws freedom of press around like compost whilst bashing the President and is censoring opinion blogs? Now I'm pissed AND I vote, write, petition, register others to vote, rally, and boycott.
Everyone knows Zillow is pathetically horrible. Why was this used as a base?
Did you notice that it is working class homes that have tanked but the $400,000 homes are doing great. The rich just keep getting richer. Of course you can make all kinds of excuses for this but the real reason is they put the pinch all all the people working for them and put their profit margins higher. They aren't richer because they work harder than the rest of us hard working Americans. They are richer because we do the work and they get richer. They didn't lose their homes and can keep upgrading while our homes are in the gutter. Then they all act like they don't get the sit-ins all over the country.