Thread: Subprime or Subcrime? Time To Investigate and Prosecute
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Old 08-10-2007, 04:09 PM
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medicineman
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Quote:
Originally Posted by Wavels View Post
Med, the sellers would have realized a portion of the "inflated" price as well as the agent.
Seems like a "win win" to me.
Ever heard of caveat emptor?
Just because PT Barnum was correct, this does not call for the Government to save people from themselves?
Or does it?
Mary Poppins anyone?
The housing market was artificially inflated by unscrupulous real estate agents for their benefit. They blame it on low interest loans (BS). Now the average worker can't afford to buy a house.
My son lives in CA. He has a degree in economics and makes 50K a year. He doesn't qualify to buy a 400K shitbox house because the asshole real estate agents have inflated the prices beyond the average workers qualifying range, all to line their pockets. Any young person starting out in CA. today that doesn't have 100-200K to invest in a house is SOL.
My reasoning says the price of homes must come down or no young people will ever realize the American dream. I owned 4 houses before I was 30. I could qualify to buy them on union wages. If I had to buy my house now, I couldn't afford it. Thanks to real estate speculators and crooked agents. Are you listening VI?
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