Why our less educated parents were more intelligent on homeownership


By golfplan18   Follow   Sat, 1 Dec 2012, 8:00pm   1,043 views   15 comments
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  1. Vicente


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    1   8:11pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike  

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  2. lostand confused


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    2   11:07pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike  

    Actually he/she makes sense. The attitude of frugality , of spending within your means and buying what you can realistically afford.

    House was home, not some architecutural masterpiece fitted with granite countertops and the latest and greatest. When people's mentality shifted from how much loan I can afford and how can I pay it back to how much monthly payment I can afford and how can I pay that-the whole market shifted. People put their freaking fake boobs on the house-not to mention cars and vacations.

    Common sense went out the window and creative financing took over. Wether you want to blame the banks or the people-is like the chicken or egg.

  3. Kevin


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    3   11:26pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike (1)  

    Who's parents / grandparents are we talking about here?

    My grandparents were all born in the 20s and 30s. Unless you're a retiree yourself your grandparents (and certainly not your parents) didn't live in the frugal era.

  4. bmwman91


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    4   11:28pm Sat 1 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike (1)  

    lostand confused says

    ctually he/she makes sense. The attitude of frugality , of spending within your means and buying what you can realistically afford.

    House was home, not some architecutural masterpiece fitted with granite countertops and the latest and greatest. When people's mentality shifted from how much loan I can afford and how can I pay it back to how much monthly payment I can afford and how can I pay that-the whole market shifted. People put their freaking fake boobs on the house-not to mention cars and vacations.

    Common sense went out the window and creative financing took over. Wether you want to blame the banks or the people-is like the chicken or egg.

    Why do you hate America? You must be from somewhere else. You see, I am American. I want what I deserve, what I am OWED, and I want it NOW. I don't want to fucking pay for it and I have the right to piss and moan incessantly about how life has not turned out exactly as I wanted. Stop boring me with bullshit about the price of things, OK. Just tell me how much it costs me at the end of the month and mind your own business. I get 10% raises every year and always will. Shit will just work out because this is America. Now, stop bothering me. American Idol is on after Sunday Night Football and my team really needs me to be in the other room yelling perfect hindsight-advice at my new 80" LED HDTV. That beauty is only $179.99 a month. America, motherfucker. I'm successful and have EVERYTHING to show for it. Don't knock on plastic knockers 'till you have tried them, either. Seriously, don't knock on them. They might break.

  5. Bigsby


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    5   11:53pm Sat 1 Dec 2012   Share   Quote   Permalink   Like   Dislike (1)  

    lostand confused says

    Actually he/she makes sense. The attitude of frugality , of spending within your means and buying what you can realistically afford.

    House was home, not some architecutural masterpiece fitted with granite countertops and the latest and greatest. When people's mentality shifted from how much loan I can afford and how can I pay it back to how much monthly payment I can afford and how can I pay that-the whole market shifted. People put their freaking fake boobs on the house-not to mention cars and vacations.

    Common sense went out the window and creative financing took over. Wether you want to blame the banks or the people-is like the chicken or egg.

    Society changed. They weren't more intelligent about it. They just did what people did at that time. If they'd been born 30 years later, then...

  6. taxee


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    6   5:58am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    robertoaribas says

    really, you have to wonder about the people who write these things, when they evidence so little critical thinking ability about the subject matter!

    Speculation brought on the great depression (sound familiar?). A world war ensued and we won. Then we became the only game in town with our industry, currency, and military. The worst is yet to come.

  7. taxee


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    7   8:40am Sun 2 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Being healthy, smart, in demand, productive: all hard to fault. Borrowing is always dicey. Nine out of ten new ventures fold quickly. I guess if you're scarier than those lending to you then you might end up with their stuff.

  8. lostand confused


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    8   8:43am Sun 2 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    robertoaribas says

    lostand confused says



    The attitude of frugality , of spending within your means and buying what you can realistically afford.


    I'd say that applied to everything else more than even housing... My mom sewed a fair amount of my clothing, cooked almost everything we ate. we drove old cars, i had to change the oil...oh but then again, we were poor as shizzle, she sure changed alot of that when she started making real money!

    Just because you make real money, doesn't mean you throw out the concepts of what you can afford . It may go up with income, but if you don't have an idea of how much you owe and when you can pay it back and include contigencies, then one is in trouble.

    Of course in today's world, fundamentals have no value. Buy something for zero down and don't pay for four years and then dump it on the taxpayer if you make a loss. Big corporations do the same and have become the biggest welfare queens of all. It is what it is and one has to operate with the current reality though. But I am lucky to have no debt and that keeps me happy! If I want to go in massive debt-it has to make sense and it does not in CA. Phoenix, even TX is actually reasonable, but not coastal CA.

  9. CaptainShuddup


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    9   8:55am Mon 3 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

    Our less educated parents were more intelligent on many things.
    Our less educated parents knew that if someone couldn't explain their intentions or plan then it was a huge load of Bullshit.
    Our parents would have never ever fell for the Derivative and Securitization markets scam, for this very reason.

    The congressional hearings back then never took... "Well it's too complicated for you to understand" as a valid answer from anyone on the stand.

    Just because someone isn't keen on Bullshit, doesn't make them less educated. Perhaps there is a critical point when being overly educated makes one stupid to common sense. Or afraid to question what doesn't make any sense at all, at the risk of sounding uneducated.

  10. edvard2


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    10   9:37am Mon 3 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Simply put, The view of housing has gone mostly from that of simply a place to live to something that's an "investment". A lot of people now buy homes as some sort of investment when historically these have not been great investments to start with. That change is what injected volatility into the market and that made the market increasingly unstable.

  11. errc


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    11   10:27am Mon 3 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Education shmeducation. Humans are devolving. Just look at how human brain size has shrunk over time. No amount of this so called "education" bullshit can solve the problem, if we can't correctly diagnose the problem, in the first place!

    Maybe we ought first be honest with ourselves, and call it what it is. Stop mislabeling it as education, and start calling it instruction.

    Then we can address the problem with why the people of today/tommorrow, are dumber than their counterparts from yesterday. Its because society has replaced food (fuel), with cheap food substitutes. This malnutrition has allowed us to find ourselves where we are today, with ever smaller brains, and a seemingly infinite littany of health problems.

    Without fixing what's broke, we should get over ourselves and stop acting surprised at the results of the ever growing State misinformation complex.

    Stop conflating education and intelligence. And never let your schooling, interfere with your education

  12. SkyPirate


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    12   3:26pm Mon 3 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    What? 3.5% down payment? Too high! Even a zero-down mortgage is too high! Banks should PAY borrowers a 20% move-in fee if they want a stable recovery! [/sarcasm]

  13. Vicente


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    13   3:30pm Mon 3 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    errc says

    Humans are devolving. Just look at how human brain size has shrunk over time.

    I disagree. Brain size is not everything. Could organization be more efficient? Perhaps social organization is sufficient such that historical "every man for himself" no longer require overbuilding certain brain areas.

    IQ tests have to be recalibrated periodically. You wouldn't score as high on latest test because at least in the measures that we test, kids are getting SMARTER.

  14. Call it Crazy


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    14   3:34pm Mon 3 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    bmwman91 says

    Why do you hate America? You must be from somewhere else. You see, I am American. I want what I deserve, what I am OWED, and I want it NOW. I don't want to fucking pay for it and I have the right to piss and moan incessantly about how life has not turned out exactly as I wanted. Stop boring me with bullshit about the price of things, OK. Just tell me how much it costs me at the end of the month and mind your own business. I get 10% raises every year and always will. Shit will just work out because this is America. Now, stop bothering me. American Idol is on after Sunday Night Football and my team really needs me to be in the other room yelling perfect hindsight-advice at my new 80" LED HDTV. That beauty is only $179.99 a month. America, motherfucker. I'm successful and have EVERYTHING to show for it. Don't knock on plastic knockers 'till you have tried them, either. Seriously, don't knock on them. They might break.

    Ha Ha Ha.... great rant!!!

    Unfortunately, it fits perfectly with the mindset of today's population!!

    We're so f*cked........

  15. Call it Crazy


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    15   3:36pm Mon 3 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Vicente says

    You wouldn't score as high on latest test because at least in the measures that we test, kids are getting SMARTER.

    Kids are getting smarter???? What planet do you live on???

    Maybe with multi-tasking on their iPhone, iPad, watching MTV and Playstation, all at the same time, but not much else......

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