Report shows strategic defaults increasing

[Arraya]

[quote=Russell][quote=briansd1][quote=SD Realtor]
You don’t get it. I am not berating Bill the deadbeat for walking on his loan. I am berating him for not leaving his home. Same with you or anyone else who is living in a home for free because THEY made the initial mistake. All I ask is that you move out and live somewhere you can afford? What is wrong with that?[/quote]

What’s the point of moving out if the bank won’t foreclose?

As long as the bank doesn’t foreclose, that house cannot be sold to anyone else at a lower price.[/quote]

I kind of don’t get that either, he is an enabled deadbeat not a saint.I do agree that it’s the enabling that is at the core of it…taking human nature into the equation.[/quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.

[jpinpb]

[quote=briansd1]
I made a correct prediction of the living-for-free trend that we now see. That maybe unsavory behavior, in your estimation, but it’s a fact that is becoming more common. Why not recognize it for that it is? Just like you may not like the bailouts; but they are a fact of life and you’re taking advantage of them through your house-flipping business.[/quote]

As far as I’m concerned, I’m more upset w/the government than the people walking. As soon as the government mentioned bailout, they were setting up this situation. It was a given that anyone upside-down would walk.

Is all of this BS? Sure. Going all the way back to when banks were giving away money on liar loans and to dead people. I had the common sense to not participate in that scenario and it certainly wasn’t b/c of lack of pressure.

The reality for most people is that they fell for the bait, bought the house they couldn’t afford thinking they were going to flip and make money b/c housing prices were going to go to infinity and beyond. Just like when they became daytraders overnight until the tech bubble crashed.

Now these people are upside-down and the government is basically saying we’re going to cut you some breaks. Once again, those people are going for it. I don’t blame them as much as I blame the government.

So it’s not that I condemn people for walking. I go to the source of this, the government.

I understand the financial decisions and contractual obligations. Morally, I’m not praising people for walking, nor living for free. I think of it as collateral undamage. As a consequence of them not paying their mortgage, they have “extra” income to spend. All these people who are not paying, and there’s a whole lot of them, are going out to dinners and shopping, etc. Consuming. Which pretty much is a major source that drives our economy.

[jpinpb]

[quote=briansd1]
I made a correct prediction of the living-for-free trend that we now see. That maybe unsavory behavior, in your estimation, but it’s a fact that is becoming more common. Why not recognize it for that it is? Just like you may not like the bailouts; but they are a fact of life and you’re taking advantage of them through your house-flipping business.[/quote]

As far as I’m concerned, I’m more upset w/the government than the people walking. As soon as the government mentioned bailout, they were setting up this situation. It was a given that anyone upside-down would walk.

Is all of this BS? Sure. Going all the way back to when banks were giving away money on liar loans and to dead people. I had the common sense to not participate in that scenario and it certainly wasn’t b/c of lack of pressure.

The reality for most people is that they fell for the bait, bought the house they couldn’t afford thinking they were going to flip and make money b/c housing prices were going to go to infinity and beyond. Just like when they became daytraders overnight until the tech bubble crashed.

Now these people are upside-down and the government is basically saying we’re going to cut you some breaks. Once again, those people are going for it. I don’t blame them as much as I blame the government.

So it’s not that I condemn people for walking. I go to the source of this, the government.

I understand the financial decisions and contractual obligations. Morally, I’m not praising people for walking, nor living for free. I think of it as collateral undamage. As a consequence of them not paying their mortgage, they have “extra” income to spend. All these people who are not paying, and there’s a whole lot of them, are going out to dinners and shopping, etc. Consuming. Which pretty much is a major source that drives our economy.

[jpinpb]

[quote=briansd1]
I made a correct prediction of the living-for-free trend that we now see. That maybe unsavory behavior, in your estimation, but it’s a fact that is becoming more common. Why not recognize it for that it is? Just like you may not like the bailouts; but they are a fact of life and you’re taking advantage of them through your house-flipping business.[/quote]

As far as I’m concerned, I’m more upset w/the government than the people walking. As soon as the government mentioned bailout, they were setting up this situation. It was a given that anyone upside-down would walk.

Is all of this BS? Sure. Going all the way back to when banks were giving away money on liar loans and to dead people. I had the common sense to not participate in that scenario and it certainly wasn’t b/c of lack of pressure.

The reality for most people is that they fell for the bait, bought the house they couldn’t afford thinking they were going to flip and make money b/c housing prices were going to go to infinity and beyond. Just like when they became daytraders overnight until the tech bubble crashed.

Now these people are upside-down and the government is basically saying we’re going to cut you some breaks. Once again, those people are going for it. I don’t blame them as much as I blame the government.

So it’s not that I condemn people for walking. I go to the source of this, the government.

I understand the financial decisions and contractual obligations. Morally, I’m not praising people for walking, nor living for free. I think of it as collateral undamage. As a consequence of them not paying their mortgage, they have “extra” income to spend. All these people who are not paying, and there’s a whole lot of them, are going out to dinners and shopping, etc. Consuming. Which pretty much is a major source that drives our economy.

[jpinpb]

[quote=briansd1]
I made a correct prediction of the living-for-free trend that we now see. That maybe unsavory behavior, in your estimation, but it’s a fact that is becoming more common. Why not recognize it for that it is? Just like you may not like the bailouts; but they are a fact of life and you’re taking advantage of them through your house-flipping business.[/quote]

As far as I’m concerned, I’m more upset w/the government than the people walking. As soon as the government mentioned bailout, they were setting up this situation. It was a given that anyone upside-down would walk.

Is all of this BS? Sure. Going all the way back to when banks were giving away money on liar loans and to dead people. I had the common sense to not participate in that scenario and it certainly wasn’t b/c of lack of pressure.

The reality for most people is that they fell for the bait, bought the house they couldn’t afford thinking they were going to flip and make money b/c housing prices were going to go to infinity and beyond. Just like when they became daytraders overnight until the tech bubble crashed.

Now these people are upside-down and the government is basically saying we’re going to cut you some breaks. Once again, those people are going for it. I don’t blame them as much as I blame the government.

So it’s not that I condemn people for walking. I go to the source of this, the government.

I understand the financial decisions and contractual obligations. Morally, I’m not praising people for walking, nor living for free. I think of it as collateral undamage. As a consequence of them not paying their mortgage, they have “extra” income to spend. All these people who are not paying, and there’s a whole lot of them, are going out to dinners and shopping, etc. Consuming. Which pretty much is a major source that drives our economy.

[jpinpb]

[quote=briansd1]
I made a correct prediction of the living-for-free trend that we now see. That maybe unsavory behavior, in your estimation, but it’s a fact that is becoming more common. Why not recognize it for that it is? Just like you may not like the bailouts; but they are a fact of life and you’re taking advantage of them through your house-flipping business.[/quote]

As far as I’m concerned, I’m more upset w/the government than the people walking. As soon as the government mentioned bailout, they were setting up this situation. It was a given that anyone upside-down would walk.

Is all of this BS? Sure. Going all the way back to when banks were giving away money on liar loans and to dead people. I had the common sense to not participate in that scenario and it certainly wasn’t b/c of lack of pressure.

The reality for most people is that they fell for the bait, bought the house they couldn’t afford thinking they were going to flip and make money b/c housing prices were going to go to infinity and beyond. Just like when they became daytraders overnight until the tech bubble crashed.

Now these people are upside-down and the government is basically saying we’re going to cut you some breaks. Once again, those people are going for it. I don’t blame them as much as I blame the government.

So it’s not that I condemn people for walking. I go to the source of this, the government.

I understand the financial decisions and contractual obligations. Morally, I’m not praising people for walking, nor living for free. I think of it as collateral undamage. As a consequence of them not paying their mortgage, they have “extra” income to spend. All these people who are not paying, and there’s a whole lot of them, are going out to dinners and shopping, etc. Consuming. Which pretty much is a major source that drives our economy.

[NotCranky]

[quote=Arraya]quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.[/quote]

Funny thing you mention food. My five year old just got a case of the “greedy gimmies” over a bowl of blueberries sitting on the kitchen island. I scolded the hell out of him, with an aim to manipulate, lest he want free rent next.

[NotCranky]

[quote=Arraya]quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.[/quote]

Funny thing you mention food. My five year old just got a case of the “greedy gimmies” over a bowl of blueberries sitting on the kitchen island. I scolded the hell out of him, with an aim to manipulate, lest he want free rent next.

[NotCranky]

[quote=Arraya]quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.[/quote]

Funny thing you mention food. My five year old just got a case of the “greedy gimmies” over a bowl of blueberries sitting on the kitchen island. I scolded the hell out of him, with an aim to manipulate, lest he want free rent next.

[NotCranky]

[quote=Arraya]quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.[/quote]

Funny thing you mention food. My five year old just got a case of the “greedy gimmies” over a bowl of blueberries sitting on the kitchen island. I scolded the hell out of him, with an aim to manipulate, lest he want free rent next.

[NotCranky]

[quote=Arraya]quote]

Yes, now bill will always expect free rent and it’s a slippery slope from there. Next thing you know he will be expecting free food.

We really need our social manipulators to whip us into shape or people will turn into communists.[/quote]

Funny thing you mention food. My five year old just got a case of the “greedy gimmies” over a bowl of blueberries sitting on the kitchen island. I scolded the hell out of him, with an aim to manipulate, lest he want free rent next.

[Arraya]

lol

I think Bill has a case of the “greedy gimmies”. Maybe this scolding will set him straight.

[Arraya]

lol

I think Bill has a case of the “greedy gimmies”. Maybe this scolding will set him straight.

[Arraya]

lol

I think Bill has a case of the “greedy gimmies”. Maybe this scolding will set him straight.

[Arraya]

lol

I think Bill has a case of the “greedy gimmies”. Maybe this scolding will set him straight.

[Author]

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