Re: housing woes

"Dave K" <dave.k@xxxxxxx> wrote in message news:gvqt449cjn0lni71gjgijnqjipkajhi6ab@xxxxxxxxxx
On Fri, 6 Jun 2008 16:03:27 -0500, "Amused"
<jamescopeland@xxxxxxxxxxxxxx> wrote:

"Dave K" <dave.k@xxxxxxx> wrote in message
news:ct5j4453o9535ga18ah0000358dijr1c89@xxxxxxxxxx
On Fri, 06 Jun 2008 02:33:29 -0700, old.salt@xxxxxxxxxxxxx wrote:

On Fri, 6 Jun 2008 02:17:05 -0500, Ron Ford <ron@xxxxxxxxxxx> wrote:

Nearly 1 in 10 American homeowners with a mortgage faced foreclosure or
fell behind in their payments in the first three months of the year,
according to a report released Thursday, a figure that offers a look
into the toll caused by the collapse of the housing market.

CNN reported that from this same report that 1 million homes
are in foreclosure, which hasn't been this high since the Great
Depression.

LOL, do I remember somebody claiming the home industry was an
indicator of how good the economy is? Was it Danny K?

I have not heard that for a while... Wonder why? Perhaps he was
wrong? No surprise.<g>

As far as I am concerned, the housing fiasco is just another
indicator of how letting business run the government sucks.
--


Yep.

About the only thing worse is letting the government run business.

Actually, I mostly agree with that.

For the most part, I'd like to see more regulation, particularly in
the Finance business; the finance business has demonstrated that they
can't run it responsibly.

I do not want to see oil companies regulated though; the one benefit
is that we may finally feel the pinch that pushes us into energy
independence. Though that one depends some upon how favorably the
government treats them. So far they've got a pretty good deal.

The disagreement we will have is in the choices of what we'd rather
see government regulate than business run freely.
--

Cheers! :)


Honestly, some of the brightest, most astute financial experts on the planet, got caught up in the bubble. (CEO's heads are rolling and more will. Good. That's the way it's suppose to be.) And I for one, do NOT believe for a moment that a mountain of regulations would do the least bit of good. Hell, most of them barely understand what happened.

According to a Steve Kroff report on 60 minutes, some banks/mortgage brokers, many in foreign countries, STILL do not know what they're holding and have no idea what to do about it.

I do NOT want the American taxpayer to bundle out people that.....
Over bought....
Paid too much.....
Didn't understand....
Whatever....

If they can re-negotiate their mortgages down, more power to them. And I fully understand that if the banks take a hit, eventually the government will take a hit, (And THAT means me.) It was a BUBBLE. Many people warned that all bubbles burst. Some of them burst fast, like this one, and some burst slow, like Social Security.

James....




.

Relevant Pages

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