[quote=werewolf34]I find it funny and really sad that no one, not one person ever talks about regulating realtors. It is just commonly accepted that realtors can do anything they want to sell homes. How about making them fiduciaries and responsible for pushing people into home they can’t afford?
Mortgages are non-recourse loans, period. In the interest rate, they’ve have priced (or forgot to price) the risk that people walk away.
I believe in personal responsibility but in a time where govt isn’t responsible and banks aren’t responsible why should the little guy be responsible?
B/c of social pressure? Not anymore, we have become a nation of crooks and patsies. You’re one or the other[/quote]
I totally disagree. Irresponsible buyers always blame others and act like they are the victims. hey, you are the buyers and you have the money, you are the one who is buying and there is no way other people can force you to buy if you cannot afford it or if you do not want to. Are you going to put on a hat that is 2 sizes larger than your head size. Everybody likes to own assets but not everybody can afford everything. I like to have a mercedez benz, but I cannot afford it, am i going to “HAVE TO” buy it anyway. The difference between a responsible and an irresponsible buyer is that the former will think if he really needs it and can he afford it, the latter, don’t give a damn because if he cannot afford it, the dealer will take the car away, or someone will bail them out. Realtors are sales persons, and certainly some of them will convince you to buy things. If they don’t, you think they are insane. But once again it is your money, no one can “FORCE” you to buy anything unless you want to buy. That is it, and don’t blame all of the people that were in the path. The buyers are also playing a major role to let the greed goes on to fuel the bubble.
