Ken, I agree. Lots of it was propelled by greed. The more mortgages you write (& sell), the more $$$ you make. Regards, Bob S.
On Fri, Nov 7, 2008 at 6:43 PM, Ken Waller <[EMAIL PROTECTED]> wrote: >> The only difference here is that some banker was dumb enough to lend them >> $$$$. > > I'm pretty sure the bankers weren't that dumb. It was/is a matter of short > term thinking. Like giving a mortgage to someone without a job, only to > shortly pedal that mortgage to another financial institution. > Eventually the piper must be paid. > > BTW - my son has been in real estate for the last 8 years - 08 is turning > out to be his best year by far. > For every seller complaining about their house sale price there are buyers > able to purchase more house than they otherwise would have been able to. > > Kenneth Waller > http://www.tinyurl.com/272u2f > > ----- Original Message ----- From: "Bob Sullivan" <[EMAIL PROTECTED]> > Subject: Re: Foreclosures: Bruce Gilden > > >> John, >> >> Yes, houses are expensive. Maybe prices will drop now. >> But this is the same old cliche story we always see. >> Poor people who can't afford the basic necessities. >> Sometimes their own choices are at fault, sometimes bad luck or illness. >> The only difference here is that some banker was dumb enough to lend them >> $$$$. >> >> The government bailout has focused on bad jumbo loans, $350,000+. >> >> Regards, Bob S. >> >> On Fri, Nov 7, 2008 at 4:51 PM, John Sessoms <[EMAIL PROTECTED]> >> wrote: >>> >>> From: "Bob Sullivan" <[EMAIL PROTECTED]> >>>> >>>> I'm suprised by the focus on the low priced home segment of the market. >>>> News reports here put the bulk of the problem in the high ($350,000+) >>>> priced homes. >>>> This report becomes a kind of cliche...hard luck stories of broken >>>> people. >>>> Regards, Bob S. >>> >>> There is no "low priced" home segment of the market. That lady who was >>> living in her van had a $180,000 mortgage on that house, and you can look >>> at >>> it and tell it ain't no McMansion ... less than a thousand square feet. > > > -- > PDML Pentax-Discuss Mail List > PDML@pdml.net > http://pdml.net/mailman/listinfo/pdml_pdml.net > to UNSUBSCRIBE from the PDML, please visit the link directly above and > follow the directions. > -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
