With all these foreclosures

Question

where are all these people living, are they homeless and sleeping on the streets with there children, i know some are renting but im sure thats not all cases.

Answer 1

Some renting, some buying (or trying to buy) much cheaper places.  Some staying with friends and family, some in motels, some in cars and under bridges.  Simply doing the best they can trying to get back on their feet.  As a landlord the rental market is very strong right now, so I guess many are renting - but some can't even afford this, so what they are doing is varied.

Answer 2

Hey - I've lost a sh*tload of dough on my awesome house, but it doesn't bother me a bit, and I'll tell you why.

I've had my house almost 12 years and done lots of improvements.  It's worth a h**l of a lot more now than the mortgage I have left to pay, even with the recent slump.  What goes up, must come down, but the good news is, it'll go back up.

The other thing is the housing market, at least where I live is insanely expensive.  A dump costs $250,000.  For anything livable, you have to pay $500,000.  The slump levels the playing field a bit and lets these kids who had been priced out, now have the opporunity to buy these houses, which will increase in value again.  it lets in people who were priced-out before, or settling.

The lending in this country and the practices employed by the sleazy agents and the moronic buyers had to end.  The tightening of the easy credit is ONLY a good thing for all of us.  The vast majority of people are not homeless, sleeping on the streets.  The ones who are there, are there by bad choices made during their lives and consequently by choice.  There is no one on the street simply due to bad luck.  They did it to themselves in one way or another.

Answer 3

With family members. I speak to them all day long, trying to get into another home because they can't live w/family any longer.

Answer 4

I dont let foreclousures happen. I dont allow families sleeping on the streets especially not with their children.

[e-mail]