| Re: Who is most responsible for the housing crisis?
Listen thxmiker, it's important to understand a few things, I think you've lost the plot on what's happening with people on this board:
1) We live in a consumer realm, where we are encouraged to take on debt. When there is a national crisis, we're told the patriotic thing to do is spend.
2) Most folks that are in trouble right now are not in that place due to the situation of equity suckage you describe. Most are in the situation because housing prices have fallen and it's impossible to sell, refinance, or otherwise move an inch.
3) Buying a home is enormously complicated. I am an intelligent woman who writes contracts for a living. The way my contracts were explained to me were incorrect. The home buying process needs to be simpler one that folks can understand.
I think ultimately it's important to recognize that this isn't happening because we are ALL bad people who can't manage our money. That would be a little silly to think wouldn't it? Millions and millions of people who can't control themselves on this level?
No, a crisis of this magnitude can only mean THE SYSTEM IS BROKEN.
Now - try to dig deep and find some compassion for your fellows. |