02-29-2008, 09:43 AM
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 | Cool Breeze | | Join Date: Sep 2006 Location: Sun Diego, CA!
Posts: 1,540
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Quote:
Originally Posted by Red Alert  My opinion, and its just that, an opinion, is the financial market has the greatest blame and it was surely greed driven. The owners get the nod for being stupid but they too deserve a little of the greed driven blame. I'm sure many of the homeowners said it was too good of a deal to refuse. They forgot the old adage, if it is too good to believe, then something is wrong!! There are some bona fide great deals, but not that many. The finance people figured out many many new forms of loans to suck the money out of the market. Some downright criminal.
I'm personally glad when I re-financed my place I stuck with a conventional fixed mortgage and one well with-in my means. But I'm risk adverse.
Red | I would tend to agree. Lots of irresponsibility to spread around. Historically home prices/values have followed the inflation rate, given a basis point or two, but at the rate they were increasing, it was obvious something would burst. Damned shame.
__________________ '04 2wd with PRG stuff......  "Wait a minute. What did you just say? You're predicting $4-a-gallon gas? ... That's interesting. I hadn't heard that." --George W. Bush, Feb. 28, 2008 |
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