I agree with PowaySeller here, she is not making blanket statements, she backs it all up with hard data. Bmarum is living in “Happy Talk” land, with his overuse and over defense of the “perfect” english language, this is a discussion not a class on semantics or grammar, drop the “perfect grammer” crap and make your point, your blowing smoke when you inundate issues with “Red Herrings” like your preponderance of information of the word “Constant” being used by PowaySeller to make a point. I recognize it as a tactical debating technique taught in college debate courses, nice try, your cover is blown.You look foolish, smoke another bowl bro !
FACT:
There is something fundamentally wrong with a person who makes 60K (or thereabouts) annually and is living in a 1.1 mil. house. If he has a rich uncle who died, I can then understand it, but no, its NOT the norm.
Its a prime example of the type of people that will collapse during the coming years with this type of purchase mentality, and brotha, there are a MILLION of em !
I do believe, and I have proven it to myself many times, that life IS BLACK AND WHITE…98% of the time. Most people’s choices are really that simple. If you live in the “gray area”, then your one of those people who usually, unnecessarily, complicate their lives and need lawyers constantly. I have stepped over and around many, many people like that while I achieved my goals and objectives in my life, and they did NOT as they were overrun with minutiae and complexity.
Realtors love the Suicide loans…after all, what does it take to become a realtor anyway ?
Morals snd background checks is not generally one of them. I know they have a “code of ethics”, but get real, so do politicians. Im not saying all realtors are shysters, but most I’ve met are.
Anything that helps make sales happen for them, will automatically get a “green light” from their industry. Although the NAR would like us to believe they are finely skilled craftsmen and their skills equal the skills of a neurosurgeon, but we all recognize the hype and see the smoke that is being blown there too. I saw the ridiculous TV commercials a few years ago too, I had to laugh.
Truth is, they could care less if you default on your “exotic loan” in 2 years, as long as they get their commission and can make their silver Mercedes Benz C230 lease payments, its a GO !
They placate their conscious and salve their ego’s by telling themsleves:
1. “Everyone in my office is pushing this type of easy loan, why should I tell them these things are dangerous and kill my sale ?”
2. “Hey I helped the customer realize a dream”……(Yeah right !!)
Truth is:
Exotic loans are DANGEROUS !! Unless your a very wealthy sophisticated investor, these things are like live hand grenades to the inexperienced..thats a fact.
Cheap money is like cheap heroin, eventually it will destroy the society that uses it. See Von Mises Economics for a detailed explanation.
The Banksters are responsible for this mess, starting at the very top with the (not so Fed) Fed and then right on down to its biggest customer, the US Government pimps in CONgress, straight on down to Wall Street and those greedy dogs who bundle up MBS (Mortgage Based Securities) and sell em to the (then) unsuspecting Chinese as a stock. What a scam.
This WILL be ugly and its not just here in the USA. Its worldwide.
