Daily Show – Mortgage Bankers Association strategically defaults

[sdduuuude]

[quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?

[davelj]

[quote=sdduuuude][quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?[/quote]

Good point. Fits in with:

Brokerage Axiom #1: It’s always a good time to buy or sell any asset on which a commission is being paid.

Brokerage Axiom #2: If in doubt, refer to Axiom #1.

[davelj]

[quote=sdduuuude][quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?[/quote]

Good point. Fits in with:

Brokerage Axiom #1: It’s always a good time to buy or sell any asset on which a commission is being paid.

Brokerage Axiom #2: If in doubt, refer to Axiom #1.

[davelj]

[quote=sdduuuude][quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?[/quote]

Good point. Fits in with:

Brokerage Axiom #1: It’s always a good time to buy or sell any asset on which a commission is being paid.

Brokerage Axiom #2: If in doubt, refer to Axiom #1.

[davelj]

[quote=sdduuuude][quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?[/quote]

Good point. Fits in with:

Brokerage Axiom #1: It’s always a good time to buy or sell any asset on which a commission is being paid.

Brokerage Axiom #2: If in doubt, refer to Axiom #1.

[davelj]

[quote=sdduuuude][quote=davelj]What business does a professional association have BUYING a fucking building in the first place?[/quote]

Wasn’t it a good time to BUY or SELL a building ?[/quote]

Good point. Fits in with:

Brokerage Axiom #1: It’s always a good time to buy or sell any asset on which a commission is being paid.

Brokerage Axiom #2: If in doubt, refer to Axiom #1.

[joec]

This is why I don’t think we should be demonizing folks who strategically default. In the end, people should just do what’s best for their families since that’s their main responsibility. There are moral questions on if this is bad, but in the old days, the 20% down payments took care of that since you would be out a good chunk of change. That’s returning unless you go the FHA route (which may be the next shoe to drop).

If someone bought a place for a mil somewhere and it’s now worth 500k, it’s probably more irresponsible to their family/kids/retirement,etc to keep paying.

It’s nice to watch out for the neighborhood and all that, but if this gets worst, who will be putting food on your table? Certainly not your neighbors.

[joec]

This is why I don’t think we should be demonizing folks who strategically default. In the end, people should just do what’s best for their families since that’s their main responsibility. There are moral questions on if this is bad, but in the old days, the 20% down payments took care of that since you would be out a good chunk of change. That’s returning unless you go the FHA route (which may be the next shoe to drop).

If someone bought a place for a mil somewhere and it’s now worth 500k, it’s probably more irresponsible to their family/kids/retirement,etc to keep paying.

It’s nice to watch out for the neighborhood and all that, but if this gets worst, who will be putting food on your table? Certainly not your neighbors.

[joec]

This is why I don’t think we should be demonizing folks who strategically default. In the end, people should just do what’s best for their families since that’s their main responsibility. There are moral questions on if this is bad, but in the old days, the 20% down payments took care of that since you would be out a good chunk of change. That’s returning unless you go the FHA route (which may be the next shoe to drop).

If someone bought a place for a mil somewhere and it’s now worth 500k, it’s probably more irresponsible to their family/kids/retirement,etc to keep paying.

It’s nice to watch out for the neighborhood and all that, but if this gets worst, who will be putting food on your table? Certainly not your neighbors.

[joec]

This is why I don’t think we should be demonizing folks who strategically default. In the end, people should just do what’s best for their families since that’s their main responsibility. There are moral questions on if this is bad, but in the old days, the 20% down payments took care of that since you would be out a good chunk of change. That’s returning unless you go the FHA route (which may be the next shoe to drop).

If someone bought a place for a mil somewhere and it’s now worth 500k, it’s probably more irresponsible to their family/kids/retirement,etc to keep paying.

It’s nice to watch out for the neighborhood and all that, but if this gets worst, who will be putting food on your table? Certainly not your neighbors.

[joec]

This is why I don’t think we should be demonizing folks who strategically default. In the end, people should just do what’s best for their families since that’s their main responsibility. There are moral questions on if this is bad, but in the old days, the 20% down payments took care of that since you would be out a good chunk of change. That’s returning unless you go the FHA route (which may be the next shoe to drop).

If someone bought a place for a mil somewhere and it’s now worth 500k, it’s probably more irresponsible to their family/kids/retirement,etc to keep paying.

It’s nice to watch out for the neighborhood and all that, but if this gets worst, who will be putting food on your table? Certainly not your neighbors.

[jpinpb]

joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.

[jpinpb]

joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.

[jpinpb]

joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.

[jpinpb]

joe – if people want to default and walk, fine But as a renting taxpayer who did not buy a house that I could not afford during the bubble, I do not feel it is my burden to save banks or people losing their homes. They can go back to renting. They will not be homeless. This is the issue I have. I also do not think they are entitled to live for free for months/years.

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