I watched Boiler Room for about the fourth time yesterday (it was on TNT or something) and it really hit me how that movie is a directly parallel as to what happened in the subprime mortgage business. A bunch of “salesmen” spewing bullshit to unknowning consumers, who in their own fit of desire to be rich or keep up with the “Jonses”, went along with the ‘scam’ and now are burned because of it. I wonder how many marriages have been torn up because of the housing mess…
I’ve spoken to two friends within the last couple of weeks; both had mortgage broker friends that “helped” them refinance their fixed rate mortgages to adjustable rate mortgages to lower their monthly payments. With friends like those, who needs enemies?
I’ve spoken to two friends within the last couple of weeks; both had mortgage broker friends that “helped” them refinance their fixed rate mortgages to adjustable rate mortgages to lower their monthly payments. With friends like those, who needs enemies?
I know it will put stress on a marriage to have an overwhelming amount of debt but I bet there are just as many marriages being held together by the high cost of housing. Maintaining two overpriced households is far more expensive than one overpriced household even if it is twice as big.
I know it will put stress on a marriage to have an overwhelming amount of debt but I bet there are just as many marriages being held together by the high cost of housing. Maintaining two overpriced households is far more expensive than one overpriced household even if it is twice as big.
Boiler Room is a great movie and definitely a good comparision to what’s happened the last several years in housing. Please check it out if you haven’t seen it yet.
Boiler Room is a great movie and definitely a good comparision to what’s happened the last several years in housing. Please check it out if you haven’t seen it yet.
I think there have already been some suicides and “avoidable” deaths due to RE business failures. I think there will be some people who will decide to check out once it becomes apparent that they really aren’t wealthy – or smart.
I think there have already been some suicides and “avoidable” deaths due to RE business failures. I think there will be some people who will decide to check out once it becomes apparent that they really aren’t wealthy – or smart.
.
