> Dana wrote:
> what's the actual problem? When you strip off the rhetoric and
> conventional wisdom, it seems to me that the root of the problem is
> that people do not have money to spend,
That's not the problem - yet. Unemployment is at 6.1% which is the
highest in a decade but not anything _b
he company was involved in way too much fraud... changing dates,
>> income, value of houses after papers are signed. Back in early 2004, she
>> said that if this keep occurring that there will be a disaster in the
>> future...
>>
>> -Original Message-----
>>
; -Original Message-
> From: Maureen [mailto:[EMAIL PROTECTED]
> Sent: Thursday, September 25, 2008 3:19 PM
> To: cf-community
> Subject: Re: We just wanted to choose a really large number...
>
> I would say that most people who can afford to pay their housing cost
&g
future...
-Original Message-
From: Maureen [mailto:[EMAIL PROTECTED]
Sent: Thursday, September 25, 2008 3:19 PM
To: cf-community
Subject: Re: We just wanted to choose a really large number...
I would say that most people who can afford to pay their housing cost
will pay, but there is always
it still prevents you from borrowing again any time soon, so really
there is little incentive for anyone who can see past the next five
minutes to bail on a house if they can avoid it. As you say, blame is
pointless, but there is more afoot here than a few irresponsible
borrowers.
Keynes:
http://e
I would say that most people who can afford to pay their housing cost
will pay, but there is always a group of bogus borrowers who will take
advantage of easy credit to either live free . No money down and no
equity in the house - walking away is easy.
Not really sure what your point is about Key
bottom line though, they cannot afford the payments? If people can
afford to pay their housing costs usually they will, yes? If you agree
with that statement, then ask yourself what Keynes would say.
On Thu, Sep 25, 2008 at 1:33 PM, Maureen <[EMAIL PROTECTED]> wrote:
> The problem in the mortgage
The problem in the mortgage industry is that people applied for loans
with an adjustable rate interest that had low initial rates, but now
the higher rate and higher payments are kicking in and they can't
afford the payments. Credit has tightened and they cannot no longer
qualify for refinancing.
can't keep the payments up. Does that
sound right to you?
On Thu, Sep 25, 2008 at 11:47 AM, Judah McAuley <[EMAIL PROTECTED]> wrote:
> Money quote from the Treasury in Forbes:
> "It's not based on any particular data point," a Treasury spokeswoman told
> Forbes.
Money quote from the Treasury in Forbes:
"It's not based on any particular data point," a Treasury spokeswoman told
Forbes.com Tuesday. "We just wanted to choose a really large number."
http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_09
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