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missk
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| Joined: | Thu Oct 2nd, 2008 |
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Posted: Fri Oct 3rd, 2008 02:58 am |
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Meems wrote: Believe it or Not........no one raised the price on housing......They just started building bigger and better houses with all the toys. The problem started when they started lending to anyone who wanted a home even if they had no job. People bought homes far above anythng they could pay and some never intended to pay at all. They went crazy buying homes and the price had nothing to do with what is going on now.......People saw those 200 thousand homes and said I want one and the banks gave it to them..Only problem is the were only makine 5 bucks an hour.
part of the problem are real estate agents, for instance, in my area, someone bought a piece of land they had not even seen, they were from out of state, they paid way, way too much for the property. Now when someone wanted to sell their home here in this area, real estate agent said, well, you can ask this much because John doe paid this much for his property, all of a sudden, prices go up, appraisals go up because people are paying the prices put on the houses for sale . And yes, loans ere made to people who didn't really have the money, BUT, they were also charged a higher interest, so the banks made money, don't think they didn't, even now with all foreclosures and hosues banks are stuck with, many of them were overcharged on anyway, so they didn't lose as much as one would think.
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Meems
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| Joined: | Mon Jul 28th, 2008 |
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Posted: Thu Oct 2nd, 2008 11:57 pm |
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Believe it or Not........no one raised the price on housing......They just started building bigger and better houses with all the toys. The problem started when they started lending to anyone who wanted a home even if they had no job. People bought homes far above anythng they could pay and some never intended to pay at all. They went crazy buying homes and the price had nothing to do with what is going on now.......People saw those 200 thousand homes and said I want one and the banks gave it to them..Only problem is the were only makine 5 bucks an hour.
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Okeechobee News Editor
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| Joined: | Fri Dec 14th, 2007 |
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Posted: Thu Oct 2nd, 2008 11:11 pm |
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From the call in version of Speak Out
I don’t understand how the president, anybody in Congress, the Senate, with this crisis we’re in which started when they doubled the price of housing, four or five years ago. Which as the pricing went up people freaked out and said “we better buy one now” and they suckered all of these kids who can’t afford these houses in because of thinking, if we don’t get one now, we’ll never be able to get one. That is what started this. Whoever doubled the price of our housing started this. I’m not into Government, I’m just a normal citizen. Lower the price of housing. Across the board, across the country, almost five years ago this started. Lower it, where people can afford a house.
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