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April 23, 2010 at 5:34 PM #544025April 23, 2010 at 11:09 PM #543184
CA renter
ParticipantWow. I cannot believe all the support for deadbeats on this thread.
Don’t get me wrong, I can see why they do it, but to think that so many apparently think it is ethical…I am very surprised.
It is not a “victimless” action. Those who were responsible and stayed out of debt they couldn’t repay are being wronged.
New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).
Savers are getting 0-2% on their savings while asset price inflation screams through the roof — their purchasing power is deteriorating rapidly.
Additionally, we will be paying for these bailouts in the form of higher taxes, fewer/lower-quality services, and lost purchasing power for many decades to come, IMHO.
Finally, we will have a problem with moral hazard from here on out. Everyone (individuals and corporate entities) will now feel entitled to have the govt (OTHER TAXPAYERS) cover their losses whenever they make a financial mistakes.
These deadbeats (borrowers AND lenders who refused to do due dilligence) are parasites, not victims.
April 23, 2010 at 11:09 PM #543298ParticipantWow. I cannot believe all the support for deadbeats on this thread.
Don’t get me wrong, I can see why they do it, but to think that so many apparently think it is ethical…I am very surprised.
It is not a “victimless” action. Those who were responsible and stayed out of debt they couldn’t repay are being wronged.
New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).
Savers are getting 0-2% on their savings while asset price inflation screams through the roof — their purchasing power is deteriorating rapidly.
Additionally, we will be paying for these bailouts in the form of higher taxes, fewer/lower-quality services, and lost purchasing power for many decades to come, IMHO.
Finally, we will have a problem with moral hazard from here on out. Everyone (individuals and corporate entities) will now feel entitled to have the govt (OTHER TAXPAYERS) cover their losses whenever they make a financial mistakes.
These deadbeats (borrowers AND lenders who refused to do due dilligence) are parasites, not victims.
April 23, 2010 at 11:09 PM #543773ParticipantWow. I cannot believe all the support for deadbeats on this thread.
Don’t get me wrong, I can see why they do it, but to think that so many apparently think it is ethical…I am very surprised.
It is not a “victimless” action. Those who were responsible and stayed out of debt they couldn’t repay are being wronged.
New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).
Savers are getting 0-2% on their savings while asset price inflation screams through the roof — their purchasing power is deteriorating rapidly.
Additionally, we will be paying for these bailouts in the form of higher taxes, fewer/lower-quality services, and lost purchasing power for many decades to come, IMHO.
Finally, we will have a problem with moral hazard from here on out. Everyone (individuals and corporate entities) will now feel entitled to have the govt (OTHER TAXPAYERS) cover their losses whenever they make a financial mistakes.
These deadbeats (borrowers AND lenders who refused to do due dilligence) are parasites, not victims.
April 23, 2010 at 11:09 PM #543867ParticipantWow. I cannot believe all the support for deadbeats on this thread.
Don’t get me wrong, I can see why they do it, but to think that so many apparently think it is ethical…I am very surprised.
It is not a “victimless” action. Those who were responsible and stayed out of debt they couldn’t repay are being wronged.
New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).
Savers are getting 0-2% on their savings while asset price inflation screams through the roof — their purchasing power is deteriorating rapidly.
Additionally, we will be paying for these bailouts in the form of higher taxes, fewer/lower-quality services, and lost purchasing power for many decades to come, IMHO.
Finally, we will have a problem with moral hazard from here on out. Everyone (individuals and corporate entities) will now feel entitled to have the govt (OTHER TAXPAYERS) cover their losses whenever they make a financial mistakes.
These deadbeats (borrowers AND lenders who refused to do due dilligence) are parasites, not victims.
April 23, 2010 at 11:09 PM #544138ParticipantWow. I cannot believe all the support for deadbeats on this thread.
Don’t get me wrong, I can see why they do it, but to think that so many apparently think it is ethical…I am very surprised.
It is not a “victimless” action. Those who were responsible and stayed out of debt they couldn’t repay are being wronged.
New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).
Savers are getting 0-2% on their savings while asset price inflation screams through the roof — their purchasing power is deteriorating rapidly.
Additionally, we will be paying for these bailouts in the form of higher taxes, fewer/lower-quality services, and lost purchasing power for many decades to come, IMHO.
Finally, we will have a problem with moral hazard from here on out. Everyone (individuals and corporate entities) will now feel entitled to have the govt (OTHER TAXPAYERS) cover their losses whenever they make a financial mistakes.
These deadbeats (borrowers AND lenders who refused to do due dilligence) are parasites, not victims.
April 24, 2010 at 4:44 AM #543214Anonymous
Guest[quote=jpinpb]Bill – indirectly you are being bailed out. Because of the fact the banks got money from the government (taxpayers) they are not foreclosing on you as soon as they normally would.[/quote]
I understand your frustration with the system, from Brian’s post it sounds like you want to buy, but I still don’t agree that I’ve been bailed out. The $900 to $1200 a month that I’ve saved from not paying rent is dwarfed by the manipulated home price levels from the bank bailout.I would be much better off if the bank bailouts had never happened. If there was no government intervention, that I’m paying for too mind you, housing prices would be far lower than they are now and I would be right back in the market by the end of this year at far lower prices. It sucks that that didn’t happen and people like you got screwed, but you need to understand that my ~$25k in free rent does not offset the rigged price levels out there that bankers and realtors are profiting off of.
There shouldn’t have been a bank bailout and the tax code should be changed so there isn’t profiteering off of speculation. I’d be far better off if 20% down was mandatory and all loans were recourse, but that’s not the way the system is gamed. The system is set up for banks and realtors to profit and not for people like you who want to buy a home.
It’s too late for should’ves now and the last person I’m going to listen to is a lying hypocrite that wants to declare what’s right or wrong for everyone while profiting off a corrupt system.
I missed out on earning multiples of the $25k that I “saved on my free rent” because of the bank bailouts. My shorts would have paid off so much more, I haven’t been bailed out I’ve lost money on the bank bailout.
People who want to declare whats morally right are the disease not the cure.
April 24, 2010 at 4:44 AM #543328Guest[quote=jpinpb]Bill – indirectly you are being bailed out. Because of the fact the banks got money from the government (taxpayers) they are not foreclosing on you as soon as they normally would.[/quote]
I understand your frustration with the system, from Brian’s post it sounds like you want to buy, but I still don’t agree that I’ve been bailed out. The $900 to $1200 a month that I’ve saved from not paying rent is dwarfed by the manipulated home price levels from the bank bailout.I would be much better off if the bank bailouts had never happened. If there was no government intervention, that I’m paying for too mind you, housing prices would be far lower than they are now and I would be right back in the market by the end of this year at far lower prices. It sucks that that didn’t happen and people like you got screwed, but you need to understand that my ~$25k in free rent does not offset the rigged price levels out there that bankers and realtors are profiting off of.
There shouldn’t have been a bank bailout and the tax code should be changed so there isn’t profiteering off of speculation. I’d be far better off if 20% down was mandatory and all loans were recourse, but that’s not the way the system is gamed. The system is set up for banks and realtors to profit and not for people like you who want to buy a home.
It’s too late for should’ves now and the last person I’m going to listen to is a lying hypocrite that wants to declare what’s right or wrong for everyone while profiting off a corrupt system.
I missed out on earning multiples of the $25k that I “saved on my free rent” because of the bank bailouts. My shorts would have paid off so much more, I haven’t been bailed out I’ve lost money on the bank bailout.
People who want to declare whats morally right are the disease not the cure.
April 24, 2010 at 4:44 AM #543803Guest[quote=jpinpb]Bill – indirectly you are being bailed out. Because of the fact the banks got money from the government (taxpayers) they are not foreclosing on you as soon as they normally would.[/quote]
I understand your frustration with the system, from Brian’s post it sounds like you want to buy, but I still don’t agree that I’ve been bailed out. The $900 to $1200 a month that I’ve saved from not paying rent is dwarfed by the manipulated home price levels from the bank bailout.I would be much better off if the bank bailouts had never happened. If there was no government intervention, that I’m paying for too mind you, housing prices would be far lower than they are now and I would be right back in the market by the end of this year at far lower prices. It sucks that that didn’t happen and people like you got screwed, but you need to understand that my ~$25k in free rent does not offset the rigged price levels out there that bankers and realtors are profiting off of.
There shouldn’t have been a bank bailout and the tax code should be changed so there isn’t profiteering off of speculation. I’d be far better off if 20% down was mandatory and all loans were recourse, but that’s not the way the system is gamed. The system is set up for banks and realtors to profit and not for people like you who want to buy a home.
It’s too late for should’ves now and the last person I’m going to listen to is a lying hypocrite that wants to declare what’s right or wrong for everyone while profiting off a corrupt system.
I missed out on earning multiples of the $25k that I “saved on my free rent” because of the bank bailouts. My shorts would have paid off so much more, I haven’t been bailed out I’ve lost money on the bank bailout.
People who want to declare whats morally right are the disease not the cure.
April 24, 2010 at 4:44 AM #543897Guest[quote=jpinpb]Bill – indirectly you are being bailed out. Because of the fact the banks got money from the government (taxpayers) they are not foreclosing on you as soon as they normally would.[/quote]
I understand your frustration with the system, from Brian’s post it sounds like you want to buy, but I still don’t agree that I’ve been bailed out. The $900 to $1200 a month that I’ve saved from not paying rent is dwarfed by the manipulated home price levels from the bank bailout.I would be much better off if the bank bailouts had never happened. If there was no government intervention, that I’m paying for too mind you, housing prices would be far lower than they are now and I would be right back in the market by the end of this year at far lower prices. It sucks that that didn’t happen and people like you got screwed, but you need to understand that my ~$25k in free rent does not offset the rigged price levels out there that bankers and realtors are profiting off of.
There shouldn’t have been a bank bailout and the tax code should be changed so there isn’t profiteering off of speculation. I’d be far better off if 20% down was mandatory and all loans were recourse, but that’s not the way the system is gamed. The system is set up for banks and realtors to profit and not for people like you who want to buy a home.
It’s too late for should’ves now and the last person I’m going to listen to is a lying hypocrite that wants to declare what’s right or wrong for everyone while profiting off a corrupt system.
I missed out on earning multiples of the $25k that I “saved on my free rent” because of the bank bailouts. My shorts would have paid off so much more, I haven’t been bailed out I’ve lost money on the bank bailout.
People who want to declare whats morally right are the disease not the cure.
April 24, 2010 at 4:44 AM #544168Guest[quote=jpinpb]Bill – indirectly you are being bailed out. Because of the fact the banks got money from the government (taxpayers) they are not foreclosing on you as soon as they normally would.[/quote]
I understand your frustration with the system, from Brian’s post it sounds like you want to buy, but I still don’t agree that I’ve been bailed out. The $900 to $1200 a month that I’ve saved from not paying rent is dwarfed by the manipulated home price levels from the bank bailout.I would be much better off if the bank bailouts had never happened. If there was no government intervention, that I’m paying for too mind you, housing prices would be far lower than they are now and I would be right back in the market by the end of this year at far lower prices. It sucks that that didn’t happen and people like you got screwed, but you need to understand that my ~$25k in free rent does not offset the rigged price levels out there that bankers and realtors are profiting off of.
There shouldn’t have been a bank bailout and the tax code should be changed so there isn’t profiteering off of speculation. I’d be far better off if 20% down was mandatory and all loans were recourse, but that’s not the way the system is gamed. The system is set up for banks and realtors to profit and not for people like you who want to buy a home.
It’s too late for should’ves now and the last person I’m going to listen to is a lying hypocrite that wants to declare what’s right or wrong for everyone while profiting off a corrupt system.
I missed out on earning multiples of the $25k that I “saved on my free rent” because of the bank bailouts. My shorts would have paid off so much more, I haven’t been bailed out I’ve lost money on the bank bailout.
People who want to declare whats morally right are the disease not the cure.
April 24, 2010 at 5:23 AM #543219Guest[quote=CA renter]New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).[/quote]Hey I’m being priced out of the market just like any other potential able buyer because I don’t want to overpay. I’ve lost more money than I gained from the bank bailout, by your definition I should be one of the whining “victims” on this thread instead of the person who from my first post stated that the decision to buy was 100% my fault.
April 24, 2010 at 5:23 AM #543333Guest[quote=CA renter]New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).[/quote]Hey I’m being priced out of the market just like any other potential able buyer because I don’t want to overpay. I’ve lost more money than I gained from the bank bailout, by your definition I should be one of the whining “victims” on this thread instead of the person who from my first post stated that the decision to buy was 100% my fault.
April 24, 2010 at 5:23 AM #543808Guest[quote=CA renter]New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).[/quote]Hey I’m being priced out of the market just like any other potential able buyer because I don’t want to overpay. I’ve lost more money than I gained from the bank bailout, by your definition I should be one of the whining “victims” on this thread instead of the person who from my first post stated that the decision to buy was 100% my fault.
April 24, 2010 at 5:23 AM #543902Guest[quote=CA renter]New (potentially more responsible) buyers are being priced out of the market because they don’t want to overpay or stretch their finances too much (which is exactly why all these FBs are in the position they’re in!).[/quote]Hey I’m being priced out of the market just like any other potential able buyer because I don’t want to overpay. I’ve lost more money than I gained from the bank bailout, by your definition I should be one of the whining “victims” on this thread instead of the person who from my first post stated that the decision to buy was 100% my fault.
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