inflation?? who benefits from all the foreclosed houses...

[quote=tipsgnob;1266328]inflation?? who benefits from all the foreclosed houses...[/quote]

Astute investors who are buying them up. Wanna buy one?

Vi

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Liberals are people that will believe anything twice.

[quote=ViRedd;1266679]already did...........

[quote=tipsgnob;1267226]Then you know who benefits from the forclosures ... so why ask the question?

Vi

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Liberals are people that will believe anything twice.

[quote=ViRedd;1268763] Yes VI, the people with money benefit, as always. No regard for the poor family that got snookered by some thieving salesman and unscroupulous lender, then had their payments skyrocket out of control. I'm sure you didn't question anyone's ability to pay for the home once it was sold. Let the buyer beware, isn't that your motto?

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Life is good, the water is sweet. The ground keeps moving beneath my feet.

Much has been made of allegations of possible youthful use of illegal drugs by Republican presidential candidate George W. Bush. Meanwhile, his chief GOP opponent, Arizona Sen. John McCain, has admitted that his wife not only illegally used drugs but walked away from criminal charges. The McCains have worked to make Cindy McCain's addiction into a political asset--despite the fact that she stole the drugs from a charity she directed and used them while mothering four young children. In 1994, Mrs. McCain admitted that she had solicited prescriptions for painkillers from physicians who worked for an international charity that she founded, the American Voluntary Medical Team. She then filled the prescriptions in the names of her staff.

Them evil money lenders, didn't at least one of them was doing the vetting for Obama?

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.Intense feeling too often obscures the truth.
Harry S. Truman

[quote=medicineman;1268854]Actually, that is one of my mottos. "Buyer Beware!" In other words, take personal responsibility for your actions. If you lie about your income and inflate it in order to obtain a loan on a property you really can't afford, with the expectation that the property will continue to appreciate, and you will make a killing ... then YES, you deserve to take a bath on the property when the market takes a dump. Your loss is someone else's gain.

Vi

__________________
Liberals are people that will believe anything twice.

[quote=ViRedd;1269042]the last house I bought I had to prove my income with tax statements...

Did it ever occur to you that 8 years ago the people could afford their homes? Gas was 1.44 / gallon 8 years ago. Now it has recently been over $4.00/ gallon. Wages have not taken that same jump.

Along with gas taking a huge leap, health costs are way up, health care for profit doesn't really benefit the masses. Prescription costs have taken a huge jump. Even food costs are up. An item that cost me $7.35 at the beginning of this summer cost $8.83 just 3 weeks ago. That is a huge jump, and it was only 1 item.

Layoffs can and will touch every segment of society. Shit is going to get a lot worse and I don't see it getting better. When the banks fold, more jobs are lost. It's like the energizer bunny, it keeps going and going and going.