The new smart financial move is walking away

[GoUSC]

While I do agree that the buyers are as much a part of the problem as the sellers I think that we do need to take into consideration the pressure that was put on buyers. You had brokers, mortgage brokers, the news, the Realtor Association, friends, etc. all pressuring people to buy. You were told by the main stream media that you could be priced out of the market forever…

Look I am not justifying any of this but if you are non real estate professional with friends who were all making money on RE it is very easy to understand how people made bad decisions. They were talked into complex loans where the supposide expert (aka Mortgage Broker) just fed them a line of bullshit that on face value they took for the truth. I didn’t buy a place until May of this year…but that’s because I work in RE and understood what was going on.

I understand why some of those completely underwater feel the way they do… Especially when they see the big banks getting bailed out and the execs still making millions.

[Anonymous]

what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)

[Anonymous]

what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)

[Anonymous]

what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)

[Anonymous]

what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)

[Anonymous]

what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)

[Arraya]

[quote=CDMA ENG]. Most of these people that were quoted were educated. Highly educated. But they forgot the fundamentals of thier education when purchasing a home? Do the research… Run the numbers… Investigate alternatives… These are things that are only native to the hard sciences…
[/quote]

Bernanke: There’s No Housing Bubble to Go Bust

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)

By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

[Arraya]

[quote=CDMA ENG]. Most of these people that were quoted were educated. Highly educated. But they forgot the fundamentals of thier education when purchasing a home? Do the research… Run the numbers… Investigate alternatives… These are things that are only native to the hard sciences…
[/quote]

Bernanke: There’s No Housing Bubble to Go Bust

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)

By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

[Arraya]

[quote=CDMA ENG]. Most of these people that were quoted were educated. Highly educated. But they forgot the fundamentals of thier education when purchasing a home? Do the research… Run the numbers… Investigate alternatives… These are things that are only native to the hard sciences…
[/quote]

Bernanke: There’s No Housing Bubble to Go Bust

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)

By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

[Arraya]

[quote=CDMA ENG]. Most of these people that were quoted were educated. Highly educated. But they forgot the fundamentals of thier education when purchasing a home? Do the research… Run the numbers… Investigate alternatives… These are things that are only native to the hard sciences…
[/quote]

Bernanke: There’s No Housing Bubble to Go Bust

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)

By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

[Arraya]

[quote=CDMA ENG]. Most of these people that were quoted were educated. Highly educated. But they forgot the fundamentals of thier education when purchasing a home? Do the research… Run the numbers… Investigate alternatives… These are things that are only native to the hard sciences…
[/quote]

Bernanke: There’s No Housing Bubble to Go Bust

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)

By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

[CDMA ENG]

[quote=justsayin1964]what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)[/quote]

Well the first person they cited was a 66 year old Psychologist and the last person was a Marketing Professor. I think that makes them educated…

CE

[CDMA ENG]

[quote=justsayin1964]what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)[/quote]

Well the first person they cited was a 66 year old Psychologist and the last person was a Marketing Professor. I think that makes them educated…

CE

[CDMA ENG]

[quote=justsayin1964]what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)[/quote]

Well the first person they cited was a 66 year old Psychologist and the last person was a Marketing Professor. I think that makes them educated…

CE

[CDMA ENG]

[quote=justsayin1964]what makes think they were educated?

I am thinking (and I am sure I will be attacked for that) that most buyers didn’t know what they were getting into- that doesn’t dissolve them of responsibility but it does explain why so many were foreclosed on or are underwater now. They just didn’t know.
I think that where most are angry is that they didn’t know that 3 or 4 or 5 of their nieghbors (who lied about income or had less than worthy credit)will lose thier house to foreclosure within a couple of years and bring down the value in their neighborhood. (which would have never been that high with out those liars or credit challenged buyers)[/quote]

Well the first person they cited was a 66 year old Psychologist and the last person was a Marketing Professor. I think that makes them educated…

CE

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