aanaasdad 06:48:18 PM Apr 29 2008

Can anyone tell me exactly what good this article can do? The media is sinking our country. Every news story I see is negative. Surely something good must be happening.

dsa1033 02:15:20 PM Apr 29 2008

wilsonmpe 02:07:16 PM Apr 29 2008

Report This! Yes.....this is going to be a run on the banks, like 1929. Wait till all those folks with good mortages and no lates find out their home is worth less than they owe. And its going to be 7-10 years before the housing market even has a chance to come back to 2006 prices. They will begin walking away also. And wait till everyone quits paying the credit card debt they owe. That will be another run on the bank. And i hope to see all these filthy greedy piggy banks collapse. And the CEO's thrown in prison.....
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I agree with you about the coming collapse of the credit card industry too. I believe that behind the scenes, people are running up horrific credit card debts to just try to maintain their previous standard of living. That "market" will have to collapse just like the mortgage industry . . . WHY DON"T PEOPLE SEE THAT??? It is amazing .. . . I guess it is "desperate people, in desperate situations, in

dsa1033 02:08:06 PM Apr 29 2008

Oh, and I'm pretty sure that the guy bought the house with an interrest only, nothing down ARMS mortgage . . . . I do not have one shred of sympathy for the guy.

wilsonmpe 02:07:16 PM Apr 29 2008

Yes.....this is going to be a run on the banks, like 1929. Wait till all those folks with good mortages and no lates find out their home is worth less than they owe. And its going to be 7-10 years before the housing market even has a chance to come back to 2006 prices. They will begin walking away also. And wait till everyone quits paying the credit card debt they owe. That will be another run on the bank. And i hope to see all these filthy greedy piggy banks collapse. And the CEO's thrown in prison.....

dsa1033 02:05:07 PM Apr 29 2008

pinglulu 01:52:06 PM Apr 29 2008

Report This! Why buy a home now with prices falling. You dont want to pay more for a home than it will be worth in the future.
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And if you buy an over priced home, your property taxes are based on the inflated value. I've owned my home for 15 years and pay approximately $3,000.00 a year in proeprty taxes. My neighbor who bought a comparable home next door (at the "top of the market pricing) is paying almost $11K - $12K a year in property taxes . . . that is perpetually into the future. His home is actually worth about half of what he paid for it . . . So, how does he get out of this predicament? He would take a substantial loss to sell the home; meanwhile he is having to apy almost a $1,000.00 a month in proerty taxes. Well, he put himself into this position . . . I can't afford to bail him out . . . can you?

dsa1033 01:58:46 PM Apr 29 2008

Now that Americans have become so savvy about "working the systems", I can't help wondering how many of these people who are screaming for help . . . esp. those who took out equity loans on the inflated value of their homes . . . are really just trying to "work the system" to get out of their indebtedness.

It's no kdifferent than those who were "working the sytem'" to have contracted to purchase 2, 4 or 6 or more condo units, wiith schems to "flip them" before they EVER had to close on the units. the scheming "greed" of the American people has undermined the integrity of our business deals and economy.

Alan Greenspan's support for "industry SELF REGULATION" just shows thaat the "intelligent man" obviously lacked "common sense". The lack of the simple "common sense" regualtion that all loan applicants be fully qualified would have averted the entire sub prime mortgage debacle . . . Alan isn't so "intelligent" after all, is he?

mbs190 01:53:59 PM Apr 29 2008

This is what happens when less than 40% of people living in California can afford to buy a house. Housing prices in the states mentioned in the article went up so fast in years past its only natural its going to hurt badly when going down just as fast. I had to ride out the samething in 80s so I do not feel sorry for anybody in a house where they owe more money than what its worth. Nothing increases in value year after year like prices did in those states mentioned.

pinglulu 01:52:06 PM Apr 29 2008

Why buy a home now with prices falling. You dont want to pay more for a home than it will be worth in the future.

bbindra 01:37:17 PM Apr 29 2008

Mr. Mainecoonkat: You living in NE where prices stay same as no one sells, and no one buys, dull life, In NY prices went 100 to 200 from 1999 to 2006, too soon too fast, expect 50% decrease ( what goes up must come down) as economy is in bad situations, jobs falling, so many companies firing employee by tons, commodities up 100 to 400%, no one is buying SUV- prices dropped 15% by these manufacturers to attract sales of SUV- manufacturers stuck with SUV's- no one is sure where the country is heading, on top of that election time, new management, new problems on the way- EXPECT 50% decrease in house prices in NY

fabgad 01:36:45 PM Apr 29 2008

HARD WORKING LAY PEOPLE KNOW WHAT THEY AN AFFORD!!!! TAKE RESPONSIBILITY FOR MAKING THE MISTAKE OF BUYING WHAT YOU CANT AFFORD ON AN AJUSTABLE RATE........THERE ARE ALWYS CROOKS TRYING TO RIP PEOPLE OFF BUT THEY CANT IF WE DON'T LET THEM.... NOBODY MADES THEM SIGN IT.....STOP BLAMING EVERYONE ELSE.......HIRE A LAWYER TO GO OVER THE PAPERS TO PROTECT YOURSELF... IF YOU CANT AFFORD A LAWYER YOU CANT AFFORD THE HOUSE... GET REAL....ITS THE BLAME EVERYONE ELSE GENERATION!!!!!!!