The wealthy continue their greed with the housing market Around Town, posted by hoops, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 10:26 am
It is wrong that the guys with all the money manipulate the foreclosure market by buying up all the inexpensive homes with cash,turn them into rentals until the market goes up or flip them at a greater cost to the masses.Greedy opportunists while first time buyers that really need a home to start a life cannot compete.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 11:27 am
Actually no ,I am not a loser.The problem in the country is the people like you who who think the wealthiest people in the country are entitled to use the money they have made to be selfish and just make more and more for themselves.It is a choice that they make but that does not mean that it is the right choice.The tea party types want to cry about raising taxes on the wealthiest when the wealthiest are paying half the rate they did 40 years ago.It comes down to being selfish or trying to help the country.You can rationalize it all day but the bottom line is people do not get rich by themselves They DEPEND upon all the people buying and using their products or services.I am not rich buy I am comfortable enough to own a nice home in Pleasanton and not have to worry about living paycheck to paycheck.I admire anyone that has worked hard and created something that has created wealth.I do not admire the attitude that I want more and more and more and I refuse to pay 5 % more in tax for the good of the country.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 11:35 am
It is interesting.I just noticed you live in Ruby Hill.So you are a rich guy living in his multi -million dollar home in your gated community looking down on everyone else and calling them losers.Nice.
Posted by psw, a resident of the Foothill Knolls neighborhood, on Oct 15, 2011 at 1:11 pm
Do your homework. Over 2/3rds of houses that sold in Alameda County last quarter were bought with a mortgage. And over 75% of the 1/3rd that were bought all cash are listed as primary residences in county records. Finally, many of the homes bought all cash by investors are homes that can't be bought with financing due to the health and safety issues that often exist because the previous owner destroyed the house when foreclosed on. Some of these homes have cement poured in toilets, exposed wiring due to lighting fixtures being removed, broken windows (I am aware of one bank owned home that had every single window in the home smashed), missing air conditioning units, cabinets stripped from them, missing appliances, missing pipes and plumbing....... I could go on and on. So while HUD offers what's called "203K rehab loans", the amount they'll allow for repairs/rehabilitation is normally less than actual repairs would cost. And you simply cannot obtain traditional financing (whether conventional or federally insured) with health and safety issues. So thank God there are investors out there willing to pay all cash for some of these homes so the rest of us can live on streets free of homes that are neglected and destroyed and where traditional financing is not an option.
Your assertion is based on zero data or any understanding on how the real estate and REO market works.
Posted by HOOPS, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 1:36 pm
There are some homes that are damaged as you say.The vast majority are not and they are bought for one reason and one reason only...for the wealthy cash investors to make a lot of money.Please do tell me they are buying the damaged homes for any reason other than the following.An example....a home in say Tracy that has been damaged by the previous owner.The home bcause of it's condition is bought cash for 100,000.The investor spends 30,000 fixing it up usually by hiring the cheapest possible people he can bid against each other to increase his profit.He than sells the house for a greater profit than he would have if it had not been damaged.That is the game and I know because I am one of the guys who does some work on these houses.There is no altruism involved.These blighted homes simply offer greater profit.Period.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 1:46 pm
My comments are directed at the richest guys who are buying 20 or more of these properties in a year.I am not saying everything they are doing is criminal but it is done to enrich themselves and that is the only reason.There are a lot of inexpensive homes that are eaten up by these guys that are taken away from a young couple looking to buy their first home and I am not talking about blighted homes.A lot of opportunities are lost for people that could use the break.
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 15, 2011 at 2:48 pm
Sounds like just another example of class envy to me. I'll buy as many houses as I can make a profit from, thank you. Why should I care about the losers and suckers who stew all day thinking about taking my wealth away? You should feel good about my wealth. I probably employ you. (Or I should say, "I probably DID employ you," as most of my laborers are now located in China.) Still, without me, guys like you are standing at the end of the unemployment line. Go out and make something of yourself, or inherit your wealth like I did.
Posted by Mike, a resident of the Highland Oaks neighborhood, on Oct 15, 2011 at 3:06 pm
"It's an ill wind that blows in all directions."
However, I decided against taking advantage of this particular situation because I felt buying someone's failed dream would be bad mojo.
What I still can't understand, though, is how anyone could take a loan for a home they can't hang onto if anything happens because they have zero reserves, then cry when something does happen and they lose it.
What do you say to someone who calls you from Las Vegas asking for bus fare because it didn't go his way at the tables?
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 15, 2011 at 4:46 pm
To Buyer from Ruby Hill,
You are quite brazen to admit that you inherited your money and still have the @##$%^ to call less fortunate people losers and suckers.What is wrong with America is people like you who only care about themselves.If the majority of wealthy people come to possess your attitude this country is done.If you are from China I suggest you go back there with the attitude that you have.With an attitude like yours and easy money I am sure one day you will find that life is not so easy and so wonderful.It is just a matter of time.You are in a sense an imposter.You did not earn anything and one day that reality will bite you.
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 15, 2011 at 9:36 pm
Go back to China? Where did that come from, Hoops? I will say, however, that I like China. A lot! It's workforce is becoming at least as well educated as America's, and they work harder for considerably less money. What's not to like? You know what else, I'm supporting the charge to cut back on taxpayer funding of US schooling. From a capitalist perspective, why spend money educating prospective workers who don't work as hard as the Chinese and demand a higher wage? I've got all the workers I can ask for in China, and the American workforce can go rot for all I care.
I was born in the United States, but I'm a child of money, and I was always taught to appreciate which side the bread is buttered. You worry about other people possessing my attitude? Well, I've got news for you, Hoops. It doesn't matter. The jig is up. You and all the other spoiled and pampered "workers" (what a laugh!) are now outworked and outcompeted by the workers I hire from India and China. You can moan and groan all you want to, but the world has passed you by. You had it good once upon a time, because 3rd world workers didn't have the quality education we had in good old USA. But the only thing you losers are good for now, as far as I'm concerned, is a high monthly rent I can gouge from you when you rent one of the dozens of houses I've purchased for a song. Welcome to the real world, hoops. And keep shooting those baskets. They'll do you a world of good.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 16, 2011 at 11:31 am
First of all,nothing has passed me by.I own a business and I am doing just fine.So you think that you are special because you find people who are desperate to work and most likely illegals and exploit them for their cheap labor if working here.So you think it is a great thing for a business to screw Americans who have a higher cost of living to ship their work overseas and pay people 50 cents an hour.You are a true gem.I honestly feel sorry for you.You are the the poster child of what is wrong with America.I am actually going to take your last posting and send it to every newspaper and email it to kgo and see how people feel about you.It just might get a little play in the media.I actually have a good friend at kgo that might be able get one of the hosts to read it on the air.In regards to shooting those baskets,I doubt that you were ever an athlete of any kind.Probably have no physical ability so you also look down on athletes who actually work hard at something.By the way there are a lot of athletes who I am sure could buy and sell your little Ruby Hill mini mansion many times, just like you do with your cheap little track homes.I also wonder about someone so eager to call working people losers....Do you really deep down inside feel like you are a loser, money and all???Just asking.Keep up the good non work and listen to the radio and read some editorials because you might be heard.Maybe occupy wall st will pay a visit to Ruby Hill.Actually your post may be an inspiration to that group.I have another idea.Hmmmmmm.I am really fired up now.Occupy wall st.....Ruby Hill.I can see them carrying placards with your words on them.Just the common ordinary people you consider trash outside Ruby Hill.You know a common ordinary small business owner with an ordinary Cal State Hayward degree just might be able to pull that off if he gets a few friends involved.Stay tuned because believe me when I say that I will do a little research and see how to contact some people involved in that movement.
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 16, 2011 at 1:26 pm
Am I to take the comments of a Cal State Hayseed graduate seriously? What are you saying, Hoopster? Are you and your trashy friends going to surround my house with pitchforks you've stolen from out in the East Bay hog barns?
What do you intend to do? Have Ray Talifiero shout out a stupid rant about me over the airwaves to all of his 8 listeners? The only decent commentator on KGO is Ben Wattenberg, the famous enironmentalist. The rest are commies who resent job-creating heroes like me (at least when I was hiring in the good old USA). Counting one's riches, when you've got as much as me, isn't as easy as it sounds. Ask my accountants and lawyers.
Truth is, I don't care what you and your loser friends think about me. My workers over in China and India are better educated than you are. I take care of them like a pastor tends his sheep. I'm good to my people. In Bangladesh, my company has recently initiated a policy to make sure over the next ten years that nearly half of our workers can expect to have ready access to in-door plumbing with hot showers.
I can assure you there is not a professional athlete alive in the United States that makes more than I do. By the way, how many professional athletes are supporting your pathetic 99% pow-wow? See what I mean? You're living in la-la land.
By the way, I do hire illegal alien labor whenever I can, as it saves me from having to pay excessive wages to a little native-owned lawn-cutting operation like you have. I also favor open borders. It's called free trade and enterprise, and I should be able to hire aliens if I want to at 1/3 what the natives are asking. What does this country have to lose anyway? The US is plummeting into 3rd world status, and its losers like you who fail to realize that that's a good thing for me and mine.
Posted by disgusted american, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 16, 2011 at 1:57 pm
Im reading the comment by the ruby hill resident,it sickens me especially the part about you having all the workers you can get from china and India and Americans can go rot in hell??? U are in support of cutting back funding to American schools?
U state u were born in America yet you seem to dislike everything american? U also state u are a child of money??? U sir or madam, what is wrong with America. U despise the very country that is responsible for your wealth and position? you would deliberately do things to undermine your own nation and people that helped to put you were you are. What you don't understand is the people of other nations the ones you hire, Chinese, Indian, Spanish, Etc. They may work for you and kiss your but to your face,Know behind your back they despise you and what you stand for, they know that you have no morals, loyalty or allegiance. They may tolerate you to your face but know they do not find anything commendable in or about you. They see you for what you really are which is a greedy American that would throw his own nation and people under the bus to climb the social ladder and pad his nest with comforts and luxuries while others rot in poverty, and there are a lot of you up there in Ruby Hills. You hire the Hispanics to take care of your lawns, Clean your homes, Baby sit your kids and everything else. You pay them next to nothing . You think you are getting off cheap! Fools!!! little do you know they despise you and talk about you behind your back, They come into your communities and do your grunge work but know that They hate you and everything you stand for. They know what traitors you are and how you turn your back on your own nation and people. THey can work cheaply for you because they are collecting welfare, food stamps, section 8 free or low cost housing, free medical, free education. They can work for you cheaper than an american because they are getting so much subsidized that they have little overhead. They laugh behind your backs and wonder how you can be so stupid, they call you American fools, Idiots, traitors to your own nation and peoples,You however, fools you are!!! don't realize that you are actually paying for your cheep labor in other ways, Higher education costs to offset what it costs to subsidize illegals educations, Higher medical costs to subsidize and recover their free health care, Higher taxes to subsidize all the social aid they get and they are in this country illegaly. You sir or madam are creating the very demize of this nation that put you where you are right now.Your children will grow up in a nation much different than the one you are in now, and you will suffer the woes as an old feeble money monger. The people of other nations will be running this nation. They will be the ones in power and they will not forget your greediness . You will be too old feeble,and it will be too late to reverse what you have created, They will remember how you destroyed your own nation and people all for greed and money , You fools, you greedy mindless idiots all in the name of money and riches you would destroy the very nation that put you where you are.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 16, 2011 at 2:35 pm
I seemed to have touched a nerve.You think you are so special because you are rich.You again are so against everything tht America stands for.America became great because of its educational system,the worlds best infrastructure,its immigration policy which attracted so many talented people,its investment policies and the money the government spent on research and development.You being a selfish greedy opportunist want only to pay no taxes to increase your own wealth and see the country fall into a ditch.America became great because of the combination of government and the private sector.Thats what my hayseed education taught me.You are anti-american and a sad ,sad excuse of a man.Money is a very small part of a person's worth.You actually sound quite poor in what really matters.I am beginning to actually feel sorry for you.
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 16, 2011 at 3:12 pm
It's hard to tell who Hoopster and Disgusted hate more, me or illegal aliens.
They hate me because I was born into money, like it, and want to hold onto it, I guess. They hate me because being the good capitalist I am, I only care about my own liberty and wealth and not their sorry and pathetic lives. There's nothing in the Constitution that says I have to like or care about the losers like Hoopster and Disgusted who grovel below me.
Hoopster and Disgusted hate the illegal aliens because the aliens weren't born in the US. Well, I'll tell you two, being born in the United States does not make you two special. You have no grounds in a capitalist system to insist that I pay you three times what I pay my Mexican who does the job twice as fast and more competently than some lazy, overpriced, Hayseed educated, local native lawn guy.
You hate me because I'm better than you. And you hate illegal aliens because you think you're better than they are. You're both a couple of class-envious confuse-nicks who should find the right-sized tin foil hats and then go pow-pow with all the Occupy socialists. You know what? I take that back. Although the Occupy dummies hate me, from what I gather, they regard illegal aliens as their equals as brothers and sisters. So, the both of you probably wouldn't find that very comfortable. Maybe you should go start your own Occupy movement, expressly composed of class haters and immigrant haters.
I'll tell you something. You come into this world alone and you leave it alone. If you don't believe me, ask those well-compensated professional athletes you idolize. They don't care whether you live or die, but you fork out a sizable percentage of your meager salaries to go idolize them. How pathetic!
Instead of hating me for my wealth and illegals for their ingenuiity and hard work, why don't you look in the mirror at yourselves? The two of you. Self righteous prisses who are so caught up in class envy and immigrant hatred that they're unable to think straight. Better behave, too. For a lot of those illegal aliens are soon going to graduate from a good school, UC Berkeley, and become your bosses.
Posted by disgusted american, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 16, 2011 at 3:52 pm
I think the post by the Ruby Hills resident needs to go nation wide, I think people need to be woken up to who the real enemies of this nation and peoples are. This is a perfect example of disgusting greed at it's purest form. This isn't capitalism.. This is just down right treason and greed and hate for the very nation and people that are responsible for all you have in life.This person openly admits to using human beings to further his wealth and excesses.He openly admits using illegal labor, KEY WORD HERE >>>USING<<<. You use illegal labor "Human Beings Less fortunate than Yourself" knowing you are not paying them a decent living wage because you can, Displacing legal tax paying citizens, hurting communities, schools, legitimate businesses, you break laws to further your wealth and greed with no empathy or consideration, not even as much as a thought of what consequences your actions have, and If what you state is true, you leave a huge footprint on every person, town, community and nation you touch, and it is not a good one!!! with your self serving money mongering corporation, you use people of other nations and claim your company initiated some policy to provide indoor plumbing and hot water to your people over the next ten years?? Why not now ??richie rich!!! it cannot cost that much to plumb a few lines and install a crude shower and hot water heater. What , You waiting to find a way to ship out of work,dis placed American plumbers from your third world America over there to do that for you at poverty wages . You claim you take care of your people like a pastor takes care of his sheep? You are no pastor, not even close!!I hope your post here is seen nation wide,,, This needs to be seen by the whole world!!!
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 16, 2011 at 4:48 pm
Oh, Disgusted, admit it. You've been in the midst of a hissy fit all day long since you heard that Herb Cain was only joking about the electric (lethal) fence he advocated being built along the US-Mexican border.
I think you spend all day long looking for people to scapegoat. What happened to those nasty illegal aliens from your earlier posts? You had to concentrate all of your hate in the most recent rant you sent directed solely at me?
Where have you been living all these years? You act as if my words are the first time you ever heard an avowed capitalist honestly spell out his views of the world. Do you really think the Carnegies and Rockefellers and Koch brothers, thought/think any differently than I do? You're going to spread the news nationwide? You don't think the nation knows what capitalism's principles are? Let me spell a few of them out: make as much money as you can, for if you fall short you're likely to be eaten up by a bigger fish; get the biggest bang for your buck possible when purchasing human and fixed capital; spend as much money as it reasonably takes to get pols, law enforcement, and the courts to protect one's own capitalist interests.
Buy off foreign (and domestic) governments? You bet! Why do you think you're paying half as much for gas as our neighbors to the north? Ever try renting an auto in Europe? Gas is three times higher there. Do you think that is magic? Do you think the US gets the cheaper oil because we're a more caring people than the Canucks or Brits?
So, let me get this straight, you want to demonize me because I'd rather hire a well-educated, nice and polite boy from India who will work for 1/5 what an American laborer demands instead of the likes of you and your croney Hoopster ranter? What planet do you live on? If you're not willing to work for a wage that is competitive with the polite boy from India, you deserve all the unemployment you get. Go away. Don't you have anti immigrant rally you want to attend?
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 16, 2011 at 6:01 pm
Wow.I did touch a nerve.First of all I never said that I hated illegals.I have a lot more respect for someone who has the guts to sneak into this country and work their ass off to survive then someone like you.You know Mr.Buyer,I never really thought of in this way before but I guess I am a basic American success story.I grew up in a lower middle class family that struggled to make ends meet as they say.Graduated from my hayseed as you call it Cal State.Did some different things and finally decided that I would rather not work for someone else.Started a small business from scratch with practically no money.Made 52,000 my first year and since then have made about 135k or so on the average for the last 20 or so years. I own a nice 2200 sq.ft home in a nice neighborhood.My kids have both graduated from college and have pretty good jobs.The basic American dream but in your eyes people like me are losers and suckers.Who is the real American between you and me Mr.Buyer.The born with a silver spoon guy who only cares about himself or me and all the people like me.You want to put it to a vote?I am done with you.I have wasted enough time and energy on someone that I have ZERO RESPECT for.You are right about one thing....We are all alone when we die, and I have a feeling when that time comes,people like me are going to be more content with what we did with our lives than people like you.I am very confident of that.There is a lot of truth to that old saying that money can't buy happiness.
Posted by Buyer, a resident of the Ruby Hill neighborhood, on Oct 16, 2011 at 7:59 pm
Oh, I see, I guess it's mostly Disgusted who's the xenophobe. You only say things like "If you are from China I suggest you go back there with the attitude that you have."
Strike a nerve? On the contrary, I find you to be a bit simple minded and highly amusing. You write as if you've been asleep all of your life and, suddenly, you've come to an awareness that you live in a capitalist society.
I really don't see much of a difference between yourself and myself. You work hard, and so do the people I hire. For me, I occasionally have to visit my factories overseas. This means dealing with jet lag, and sometimes the four star hotels aren't as good as they are cracked up to be. And then, well, I won't even mention how at times I haven't been able to get ice for my drinks. And during the monsoon season you might as well write off any silk suits that you've been wearing that day.
So, after leaving Cal State Haystack you started cutting lawns at 52 grand and now, after 20 years, you're only making 135 grand. And you wonder why I don't respect you? My income just in the last year alone has better than tripled. This so-called recession has been great for my business. What are you doing wrong that you've been so left behind the rest of us? Watching too many basketball games perhaps? Have you ever thought to think why not a single NBA hoopster ever criticizes the system? Yet you seem to have no problem respecting them. But you seem to hate me and say you have "zero respect" for me. Well, since you know what I think of you and so many other losers among the tens of thousands who read these posts, you must realize that what you say about me doesn't affect me in the least. I've got too much money to care about what the hoi polloi say about me. That's why I'm so happy to be me instead of you.
Finally, you claim money can't buy happiness. But of course you are joking! You surely can't be that naive can you?
Posted by exp, a resident of the Castlewood Heights neighborhood, on Oct 16, 2011 at 11:57 pm
You don't know what you are talking about. Anyone buying 20 homes in one year isn't paying cash for all of them and some lenders will cap you at a total of 4 loans and others won't go higher than 10. And frankly, the market is short on rentals so thank god for some investors still being willing to buy in this crappy market when it can take years and years to make a few bucks. In some cases, values are still declining so investors are sitting on the sidelines.
Why not work your ass off and live in a tiny appt and stash cashy away so you can do the same? Often, cash buyers come from very modest living situation where two full families will share on e house just so they can save. The all cash and large down payment buyers I see got the money from busting their asses off. In fact the last all cash deal I did was for an soldier enlisted in the Army who has been deployed twice. They bought a small home in a humble area and deserve everything they got and not because anyone handed it to them. Or are you going to call them names too when he socked money away with his life on the line in Aphganastan?
Posted by Kathleen Ruegsegger, a resident of the Vintage Hills Elementary School neighborhood, on Oct 17, 2011 at 12:17 pm
The post has only been up for 90 minutes and Dmitri/Buyer easily took the discussion into the ditch. I agree with Steve, has to be Leland/Jake/every other name this person has already abused.
We took advantage of the down market for someone who will make it a permanent residence. It wasn't a foreclosure, but the seller "forgot" to disclose key information about a support beam they removed. So while I agree there are many people who lost out on a dream, here are plenty of examples of those who gut the house of appliances and light fixtures when they are foreclosed.
For those who buy, repair, remodel, and resell/keep for other purposes, even though it may just be a business move, they are helping a neighborhood and community in the process. No matter their motives, it is better than the messes being left behind.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 17, 2011 at 1:44 pm
I guess Buyer is a fraud,no one could be that clueless about life.Oh well.The purpose of my original rant about the really rich guys buying all the foreclosures got lost.I think it is great for someone to buy a foreclosure,fix it up and sell it and then buy another one.What pisses me off is the richest guys that are buying A LOT of them and think they are so entitled to enrich themselves by pushing some paper around but think it is ok to screw the people they hire to fix the houses .The attitude that I should make my 30 k for doing practically nothing but I am going chew down every contractor, hire illegal workers and just squeeze every penney they can out of everyone.I am not saying all investors are like that because some are very fair.I am talking about the greedy ones who smell money 24 hours a day like the guys who got caught fixing prices at the courthouse auctions.I also understand buying a lot of these helps neighborhoods.It would be nice to see some law that if several people were bidding on a house, a regular buyer who actually wants to live in the house would get preference over an investor,but it is the opposite because cash talks.I know that will never happen.The rich get richer and that is the way it is.
Posted by Bill, a resident of the Amberwood/Wood Meadows neighborhood, on Oct 17, 2011 at 5:24 pm
Maybe "Buyer" and Susan Su "Suzy Su" of the Tri-Valley University sham are one in the same. Suzy Su bought her home in Ruby Hills in Dec 2010. The house was REO (bank-transacted, "real-estate owned" post-foreclosure sale).
Probably wants to get a few licks in before she stands trial for immigration corruption charges.
Posted by b is a shill, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 17, 2011 at 8:54 pm
Randi - you must have incredibly low standards if you hold up b, YAT, etc. as intellectual powerhouse examples.
Or maybe it is just that they subscribe to your way of thinking.
I continue to be amazed at the sheer number of socialists we have in this country. Even more I am amazed at their utter lack of economic knowledge. You'd think at a minimum they'd be honest about history and what has worked/not worked. But not the case.
Maybe you folks should move to the prime example countries to your liking - Greece, Venezuela, Cuba, Spain, Italy, etc. Oh shoot, they are all either going bankrupt, moving more towards a totalitarian state, or are failed communist states who are trying to change their ways.
Good luck trying to remake the US. It's not going to happen.
Posted by b is a shill, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 18, 2011 at 7:27 am
It never ceases to amaze me to see this one-sided thinking all the time.
You are so quick to demonize parties on the other side of these unfortunate transactions without acknowledging that maybe the homeowners aren't complete victims and engaged in irresponsible behavior that led them to their current position.
Do you think the massive consumer binge of the past 10 years has anything to do with this? Just think, if some of these people had lived within their means, not used their homes as ATMs, and gosh maybe saved some money that they'd be some of the people taking advantage of the opportunities in front of them.
I guess it makes you feel better to play the victim and blame your disappointments and shortcomings on exogenous factors.
Maybe it is the irresponsible people who are failing themselves and society and not the wealthy people you so often foam about.
Posted by hoops, a resident of the Mohr Park neighborhood, on Oct 18, 2011 at 8:37 am
Well since I started this maybe I can end it.My final thoughts after reading other opinions.There are investors doing a service to the community by buying the especially blighted homes.There are little guys buying one,spending a few months fixing it up and selling for a profit..great by me.There are a few really rich guys who are greedy sob's that buy 50 or more in a year and that is a fact.These are the guys that steal away the opportunity for someone to get a great deal on a house they actually want to live in because the bank takes the cash buyer.There were a lot of people who bought homes they could not afford and lost them to foreclosure and that was a bad choice they should have never made.I respect illegals that through desperation sneak into our country to scrape out a living by working very hard...but....that does not make it right and we have a problem.Now you take the greedy rich sob who buys 50 houses and he has a choice to pay cheap labor to the illegals or full wage to a legitimate business.Oh well,this is America,I think.
Posted by steve, a resident of the Parkside neighborhood, on Oct 18, 2011 at 8:44 am
Banks and other business exist to make money and continue their operations....no news there, but lately the adminstration is painting this as a bad thing. Promoting class warfare results in nothing positive other than giving the unemployed and unemployable something to do. Many of those folks who were foreclosed upon are probably camping out in the business districts of our biggest citires blaming everone else for the problems that have befallen them. Many of these sad stories could have been avoided in they had done two things prior to assuming that home ownership was their right: 1)saved some funds for a rainy day and cut back on excessive spending and credit transactions not paid back right away; 2) actually have read the loan documentation they signed and agreed to be accountable for.
For the folks that can't perform these two basic requirements, renting a dwelling is a better option. Home ownership is a priviledge that requires sacrifice and good personal financial planning. I'm sure these principles are not longer being taught in our schools, so don't set your expectations high that this will change soon.