Negative stories about real estate often miss the mark
Original post made on Oct 4, 2007
Read the full story here Web Link posted Friday, April 21, 2006, 12:00 AM
on Oct 4, 2007 at 12:14 pm
Given the reality of the market, I guess the negative stories on Real Estate were true! Of course, you wouldn't know this from reading the Pleasanton Weekly's regurgitation of dribble from local and national realtors groups as "stories."
One realtor has stepped up though. Did you see Tim McGiure's ad in last week's PW discussing how sellers haven't acknowledged reality? Wow - spot on.
on Oct 5, 2007 at 2:08 am
Which reminds me... what is always failed to mention with this so called "mortgage crisis" is that a great deal of the people who now can not make their payments flat-out lied on their application! Specifically, they lied about how much they make. At the time people were applying for these mortgages, it was quite rare for people to prove they were actually making the amount they put down. That means the majority of these people would have naturally not received these mortgages. It is not right for the government (aka: my money and your money) to bail out these people. Whatever happened to people taking responsibility for their actions?
With that said, even if people did not falsify their mortgage applications, I find it inappropriate to bail them out in the capitalistic system we have. Politicians are crying that people are being kicked out of their homes. Well guess what, those homes are not their homes. Part of capitalism is being at the will of the "invisible hand" of the economy. The greater the risk, the greater potential for a larger reward - or greater demise.
The problem with bailing people out is it goes directly against what America stands for. We aren't communists thankfully(yet).
on Oct 5, 2007 at 2:13 am
I meant "So untrue!" in reference to the post by homeowner.