Alright, I admit it. Some people read the supermarket tabloids, I read the Yahoo "gossip boards". I ignore most of what I read, but I just couldn’t pass on this quote from Wilson2207:
IN MY OPINION, WHICH IS BASED ON MY EXPERIENCE, THERE IS NOT A LEGAL PRODUCT AVAILABLE TO THE TYPICAL CONSUMER IN THE MARKETPLACE TODAY, WHICH CARRIES THE DEGREE OF POTENTIAL FINANCIAL AND EMOTIONAL RISK FOR THE PURCHASER, AS DOES THAT OF A NEW HOUSE.
Ohio Fraudclosure
UK House Bubble
Mish's Global Economic Analysis
Northern Virginia Housing Bubble Fallout
Bubble Meter
Breaking News Relevant Articles© Copyright 2012 Housing Doom | Copyright© 2011, AuthentiCraft, Inc.
Well, in today’s market, with home prices falling rapidly and still overvalued by 50% in some places by any conventional meeasure, it seems hard to argue…
HOME SWEET HOME. That used to have another meaning. A MAN’S CASTLE was another. In all our gungho charge to easy money we bet the FARM. And to think this little FROTH as it was characterized by the all knowing YODA would lead to so much PAIN throughout the FINANCIAL WORLD. Soon to trickle down to OUR WORLD whether you still have a home or not.
Here is another quote from Mike Whitney at Counterpunch.com
“This is all part of the self-reinforcing negative-feedback loop that begins with falling home prices and then rumbles through the broader economy. There is no chance that the economy will rebound until housing prices stabilize and the rate of foreclosures returns to normal. But that could be a long way off. With housing inventory at historic highs and mortgage applications at new lows, the economy could keep somersaulting down the stairwell for a good two years or more. Only then, will we hit rock-bottom.”
http://www.counterpunch.org/whitney02222008.html
Bruce-
Now instead of feeling like "HOME SWEET HOME"- a mortgage can feel like it’s draining your life’s blood away:
Yes, I think agree is what a mortgage would look like if it were to come to life.
Mind you, that plant also can pass for any of the greedy investors/brokers/lenders/flippers who have constantly insisted “FEED ME! (DO WHATEVER IT TAKES!)” throughout the housing bubble build-up. These are the people who couldn’t care less about the reality of what it has taken for their greed to be “Fed”, and then scream and wilt and cry when they have to face the consequences.
BTW it also occurs to me that Rick Moranis plays the role of the weakling/pushover (ie: the layer of government which was supposed to create and enforce rules to protect us from the possibility of this kind of madness)
Twist-
I love that movie. Wow you’ve got a great way of associating and finding these tidbits. Kudos.
There Will Be Blood. A movie my wife and I saw last weekend. Very depressing and not very likeable but It Will Win Oscars. Sort of like our current dilema, not very nice and getting worse. Problem is no one wants to give blood, well not their own anyway. It’s the walk away society. Let someone else take care of it, I QUIT. So it gets passed on down the line and the bankers don’t want to give blood so they call in the Gov. Well we all know there’re the most squeemish of all. So the Fed prints more money but Lo and Behold it takes all our blood. Sucked dry. Nothing left. WORTHLESS DOLLARS. How do you spell DOOM. Have a nice weekend. Enjoy it while you can.
Yes Igor it’s a nasty death spiral.
Bruce-
The assumption has been for sometime that we’ve had “more than enough” blood.
We’ve turned into a nation of turnips.