Housing crisis - Does it make you mad that people who didn't make a really stupid investment decision

Question

and buy a house that they couldn't afford on a mortgage that only a fool would sign onto.............now get to pay for those who did?

Hey can I have a fixed rate government backed mortgage too please?

Answer 1

You can make all the comments about those losing their homes you like and be upset all you want. Until you actually see people like yourself being put out their homes, sleeping in cars and children like yours out on the street, keep your stupid comments to yourself. It could easily be you one day, it could be anybody. You could lose your job tomorrow and not be able to pay your mortgage or make rent. Some people just did not know what they were getting into and what it would actually do.They trusted those who should have been giving them something good for them. Let me tell you a little secret, I am a chemist for a very well know drug company. You probably take our drug product once in awhile like many others. You trust our drug product has went through all Quality Control and nothing is wrong with it. That is how is suppose to be, you trust us. Well, I can tell you stories where lots of drugs passed with traces of blood in it, you might have taken it. We are in the business to make money! My point is that many people worked with people they trusted and thought they could afford this home but these people were in the business to make money too!  

Answer 2

I really think that most folks bought thier home in good faith.

Greed is the bad guy here..the mortgage brokers got greedy, the speculators got greedy. The whole real estate market got greedy.

The little guy got caught up in the mess.

This happened in the 80s..just not so bad.  I remember groups of speculators,selling properties back and forth to each other..each time for for more money. And I lived in a small town!