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Reputation:93
Level:All-Star
Since:Dec 11, 2007
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I said it was just one example of encouraging people who could not afford to be in the housing market, geting into it because of gov't encouragement.
There were also a ton of scams. They were even tricking people who would qualify for a normal loan into secondary ones. They got people who really couldn't afford a house to believe they could with lots of smoke and mirrors. One of the biggest American dreams is to own a house, it shouldn't be so hard to understand how so many were taken advantage of.
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Reputation:99
Level:Superstar
Since:Aug 10, 2006
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Then you are either oblivious to the higher end of the bubble bursting or you are not a casualty. Because it makes no sense to believe that HUD handing out $1,000 checks to buyers of HUD listed homes has anything to do with "the higher end of the bubble bursting."
You would think there might be a trend, but naive as you must be, you are happily sitting in a home that has no rifts. When offered gimmick loan after gimmick loan - the promise of no/low interest for 5 years, no equity payments, etc - I chose to go with a 5.75% fixed, 30 year mortgage. But I'm the naive one...
Think about this, a person with a 800 beacon, working full time, credit is obviously awesome, making tons of money is suddenly put in a position of month to month payments. Why?Because they didn't have the cash (or didn't want to spend it) to buy their new home? Why else would someone take out a mortgage?
But live in that bubble. yours will burst when this cycle hits you and your whining about other prices going up too much for your liking.I guess that's the difference between you and me. When I have a brain cramp and do something stupid, I own my stupidity - don't look to blame others. If I ever need to, I'll work a second job at 7-11 to live up to my obligations...but I won't whine or blame others for it. I don't expect anyone to look out for me more (or better) than I look out for myself.
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Reputation:98
Level:Superstar
Since:Sep 7, 2006
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ALL OIL WILL BE DRILLED
SOME AREAS SOONER THAN OTHERS
Start with the utah/dakota's.
While they are doing that, fix the pipeline from alaska, so when the drilling gets going up there, they don't cause another Exxon Valdez, granted, some of you may not give a crap about destroying a mass amount of wildlife, I do.
You left out the all important "build new and up to date refineries". The crude we get with be useless without it
AND WE WILL BUILD NUKE PLANTS
Hope so. many other countries use it, no reason to still have the 3-mile-island hangover.
Personally, when I get my long term home, Solar panels are getting set up ASAP, The panels cost money, the sun is free. The hole in the ozone probable increases their efficacy.
WE WONT SIT IN THE COLD DARK
with the exception of in our air-conditioned homes at 2am on this thread!!!!
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Reputation:98
Level:Superstar
Since:Sep 7, 2006
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YOU MEAN YOU CAN NEVER SEE BOTH SIDES OF A CONTROVERSIAL ISSUE?
ONLY ONE SIDE CAN HAVE ANY VALID POINTS?
HOW SAD.
I absolutely can.
I was commenting on the "pretending not to get it" and tagging my name to it.
Do you do anything but attack?
Here is one. the clouds in the sky are white, and the grass is green.
Tell me how this is wrong, since I just don't get it.
all night has been cool in here, and in 2 swipes, you go and ruin it. what is your problem.
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Reputation:98
Level:Superstar
Since:Sep 7, 2006
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Because it makes no sense to believe that HUD handing out $1,000 checks to buyers of HUD listed homes has anything to do with "the higher end of the bubble bursting."
it was just 1 example. I know in 2003 when I bought my townhouse, I was given a federal "first time home buyer rebate/credit", I was not HUD, and had a good credit score. Why would these incentives be in place other than to get people into the housing market and increase purchases and new starts?
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Reputation:94
Level:All-Star
Since:Sep 26, 2007
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Figures. I don't want to hear any bitching about the immigration problem from you, fakechristianpapa.
BUT IN TOTALLITY, IT IS A PROBLEM. AND I HAVE ALWAYS KNOWN IT REALLY REALLY HURTS BLACKS.
I MUST BELIEVE THEY WOULD DO SOME OF THOSE JOBS IF THE BORDERS WERE SHUT TIGHT. AND DEPRESSES WAGES OBVIOUSLY.
AND THE CRIME PROBLEM IS GETTING WORSE.
NO OTHER COUNTRY WOULD HAVE ALLOWED IT.
I AM NOT WORRIED ABOUT WHITE CULTURE/EUROPEAN CULTURE
MOST OF MY GIRLFRIENDS WERE ILLEGAL SPANISH/ASIAN
I WOULD GO TO A VIET NAMESE/ SALVADOREAN RESTAURANT, WHATEVER EVERY DAY- AN "AMERICAN" JOINT WOULDN'T EVEN BE ON MY RADAR.
BUT
POST 9-11
- BORDER SECURITY
- CRIME/MS 13, ETC GANGS
- DEPRESSED WAGES FOR BLACKS, ETC.
- OVERUSE OF EMERGENCY ROOMS/HOSPITAL CLOSINGS
I WILL GO WITH McCAIN'S REASONABLE REFORMS. OR WHATEVER DD SAYS...
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Reputation:99
Level:Superstar
Since:Aug 10, 2006
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it was just 1 example. I know in 2003 when I bought my townhouse, I was given a federal "first time home buyer rebate/credit", I was not HUD, and had a good credit score. Why would these incentives be in place other than to get people into the housing market and increase purchases and new starts?I never said these programs weren't to help get people into homes, etc. I said I don't believe they had much to do with the real estate bubble. Unless some of the programs handed out tens of thousands of dollars, it doesn't make sense to me that they're (even in part) responsible.
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Reputation:98
Level:Superstar
Since:Sep 7, 2006
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FHA loans were also being handed out like candy.
These are generally looked upon as "high risk"...again, I will need to look to see how many were first time buyers (5), and if they have a subset of "foreclosed FHA loans (%).
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Reputation:99
Level:Superstar
Since:Aug 10, 2006
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I WILL GO WITH McCAIN'S REASONABLE REFORMS. OR WHATEVER DD SAYS...And myst doesn't find this entertaining...lol
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