Post-Consumerism: the Quiet Revolution?
invite response
2006 Sep 26, 7:30am 11,913 views 118 comments
« First « Previous Comments 114 - 118 of 118 Search these comments
Hell, if she's fully legit, she probably HELOCed herself a decent pair of silicone and she can dance the debt off.
I just found my parents' nasty former neighbor (who was a slumlord who broke all kinds of zoning and HOA rules) is selling his 1998 construction AS IS. The agent says "highly motivated seller" but the asking price (came down $15K from initial asking price about 30 days ago) is about $20K higher than non-trashed houses.
This guy bought in 2003 for $470K and now he wants $600K. If he was motivated, how about selling for $270K (the builder's original selling price in 1998)? I'd consider that motivated.
From the People's Republic of Portland:
http://www.oregonlive.com/news/oregonian/index.ssf?/base/news/115932211250650.xml&coll=7&thispage=1
I've finally seen somebody go on the record about something I've been worried about since this crazy crap began....on page 2 the U.S. Attorney said it reminded him of the S&L mess. If so, every taxpayer in the country will be paying the bill for all the fraud for years to come in the form of higher taxes. The more we learn, the worse it gets.......
Alex,
Unfortunately, "blowing up" the housing market now is a forgone conclusion. The bust is already here --and it was market excess itself that precipitated it, not any so-called regulators (who were effectively asleep at the wheel or cheerleading the bubble all along). Anything Congress or the Fed does from now on re: housing will very likely be damage-control related, and even then only to help bail out the GSEs and banks --not Joe & Jill Homedebtor. F@cked borrowers are screwed.
As far as writing your Congressman goes, I think that's a good idea, but I wouldn't expect too much of a response. Let's face it, 7 out of 10 people "own" their homes (or are owned BY them), plus homedebtors tend to vote regularly in much greater numbers than renters. Congress will pander to whichever group brings it the most votes and money (homedebtors, NAR, mortgage companies, banks, etc.), so don't expect much as a result.
« First « Previous Comments 114 - 118 of 118 Search these comments
Debt = Wealth
Mortgage Slavery = Freedom
Stupidity = Genius
It seems there are some people among us who have not yet "gotten the message". HidingintheBronx, Jon and Alien appear to be promoting some dangerous and counter-revolutionary ideas. Ideas like "serially refi-ed McMansion does not = happiness", "3 McJobs does not = high quality of life" and "less is more". If these ideas were to become widespread, they could seriously undermine the entire debt & hyperconsumption-based global economy. Not spending beyond one's means is not only unnatural, it's Un-Amerikan.
It is clear: Something must be done to stop these subversives before it's too late! A fatwa must be issued, bounties must be posted, phones must be tapped, ramparts must be manned. The guilty must be caught, sentenced, re-educated and hanged (not necessarily in that order).
As an Amerikan Consumer, it is your duty to report such subversive un-Amerikan activity to the nearest bank or sub-prime mortgage broker. Don't worry, as long as you cooperate, the Illuminati Secret Police will take care of the rest. You just keep working and spending --and keep your eye on the (ever receding) prize!
You must ask yourself: "Do I love Big Boomer?"
Stay tuned to your telescreen, citizen! More to follow...
Citizen HARM
#housing