Mortgage Defaults May Be Driving Consumer Spending

[NotCranky]

This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.

[CA renter]

[quote=Russell]This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.[/quote]

Yes, absolutely. The people who do everything on credit (without paying it off right away), and the people who have no compunction about going BK multiple times after running up all their credit lines, push prices up for those of us who try to live without debt. No doubt about it.

This is why I am NOT in favor of loose/easy credit, and don’t agree with those who say we need ample credit in order to survive. There are plenty of examples out there of people and companies that do not need credit in order to survive and thrive.

[CA renter]

[quote=Russell]This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.[/quote]

Yes, absolutely. The people who do everything on credit (without paying it off right away), and the people who have no compunction about going BK multiple times after running up all their credit lines, push prices up for those of us who try to live without debt. No doubt about it.

This is why I am NOT in favor of loose/easy credit, and don’t agree with those who say we need ample credit in order to survive. There are plenty of examples out there of people and companies that do not need credit in order to survive and thrive.

[CA renter]

[quote=Russell]This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.[/quote]

Yes, absolutely. The people who do everything on credit (without paying it off right away), and the people who have no compunction about going BK multiple times after running up all their credit lines, push prices up for those of us who try to live without debt. No doubt about it.

This is why I am NOT in favor of loose/easy credit, and don’t agree with those who say we need ample credit in order to survive. There are plenty of examples out there of people and companies that do not need credit in order to survive and thrive.

[CA renter]

[quote=Russell]This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.[/quote]

Yes, absolutely. The people who do everything on credit (without paying it off right away), and the people who have no compunction about going BK multiple times after running up all their credit lines, push prices up for those of us who try to live without debt. No doubt about it.

This is why I am NOT in favor of loose/easy credit, and don’t agree with those who say we need ample credit in order to survive. There are plenty of examples out there of people and companies that do not need credit in order to survive and thrive.

[CA renter]

[quote=Russell]This type of loose money keeps the prices of necessities and optional stuff up for people who are paying rent or mortgage, even though they too might be living through tough times. I just want to point out to CaRenter yet one more way the responsible get the short end of the stick.[/quote]

Yes, absolutely. The people who do everything on credit (without paying it off right away), and the people who have no compunction about going BK multiple times after running up all their credit lines, push prices up for those of us who try to live without debt. No doubt about it.

This is why I am NOT in favor of loose/easy credit, and don’t agree with those who say we need ample credit in order to survive. There are plenty of examples out there of people and companies that do not need credit in order to survive and thrive.

[CA renter]

JP,

Weren’t other posters giving us a hard time when we suggested that the economy is benefitting from massive numbers of people who suddenly have no house payments? I’ll have to find that thread…

[CA renter]

JP,

Weren’t other posters giving us a hard time when we suggested that the economy is benefitting from massive numbers of people who suddenly have no house payments? I’ll have to find that thread…

[CA renter]

JP,

Weren’t other posters giving us a hard time when we suggested that the economy is benefitting from massive numbers of people who suddenly have no house payments? I’ll have to find that thread…

[CA renter]

JP,

Weren’t other posters giving us a hard time when we suggested that the economy is benefitting from massive numbers of people who suddenly have no house payments? I’ll have to find that thread…

[CA renter]

JP,

Weren’t other posters giving us a hard time when we suggested that the economy is benefitting from massive numbers of people who suddenly have no house payments? I’ll have to find that thread…

[Arraya]

http://piggington.com/report_shows_strategic_defaults_increasing
Submitted by Arraya on March 30, 2010 – 1:59pm.
Actually, I think if they lived for free or went out and rented another place, we would still pay. At least this way they can pump more money into the economy and keep people employed. There are between 8-10 million people not paying their mortgage…. That’s gotta help the economy

[Arraya]

http://piggington.com/report_shows_strategic_defaults_increasing
Submitted by Arraya on March 30, 2010 – 1:59pm.
Actually, I think if they lived for free or went out and rented another place, we would still pay. At least this way they can pump more money into the economy and keep people employed. There are between 8-10 million people not paying their mortgage…. That’s gotta help the economy

[Arraya]

http://piggington.com/report_shows_strategic_defaults_increasing
Submitted by Arraya on March 30, 2010 – 1:59pm.
Actually, I think if they lived for free or went out and rented another place, we would still pay. At least this way they can pump more money into the economy and keep people employed. There are between 8-10 million people not paying their mortgage…. That’s gotta help the economy

[Arraya]

http://piggington.com/report_shows_strategic_defaults_increasing
Submitted by Arraya on March 30, 2010 – 1:59pm.
Actually, I think if they lived for free or went out and rented another place, we would still pay. At least this way they can pump more money into the economy and keep people employed. There are between 8-10 million people not paying their mortgage…. That’s gotta help the economy

[Author]

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