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Reply #64: "Buying More House" conjures up McMansions. [View All]

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juno jones Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 01:29 PM
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64. "Buying More House" conjures up McMansions.
Where I lived modest 800-1200 sq foot houses were going for 250-500,000.

Interesting how the victims of this market and scam are the new 'cadillac welfare queens' even to liberals who should know better.
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  -I'm getting really sick of hearing about people who "bought more house than they could afford" --- sojourner  Nov-26-09 10:02 AM   #0 
  - K&R number four, all you need is two hundred more!  Deja Q   Nov-26-09 10:06 AM   #1 
  - We live in a $46 thousand dollar "hovel" . . .  DollyM   Nov-26-09 02:21 PM   #68 
     - Please forgive my sense of melodrama...  Deja Q   Nov-26-09 10:15 PM   #102 
     - Good luck  era veteran   Nov-27-09 06:08 AM   #133 
  - +1000  baldguy   Nov-26-09 10:06 AM   #2 
  - Or some of the corporations.  Deja Q   Nov-26-09 10:10 AM   #8 
  - Most of the bad mortgages were not from banks  FarCenter   Nov-26-09 01:13 PM   #62 
  - But who bought them up after they were  waiting for hope   Nov-26-09 05:14 PM   #71 
     - We got our mortgage from a LOCAL BANK,  TicketyBoo   Nov-27-09 05:19 AM   #124 
     - I think that CitiMortgage is part of CitiGroup, but it is not a bank  FarCenter   Nov-28-09 09:56 AM   #191 
        - CitiMortgage owns the paper on my house -  waiting for hope   Nov-28-09 01:45 PM   #203 
  - But they never would have gotten all that free money if they had admitted they were at fault  Go2Peace   Nov-27-09 12:50 AM   #113 
  - BUSH'S CHEAP MONEY MAKES HIGHER PRICES POSSIBLE  HowHasItComeToThis   Nov-27-09 01:41 AM   #120 
  - They didn't buy them with cash, after all.  Barack_America   Nov-26-09 10:07 AM   #3 
  - In every other profession there are standards of conduct.  wolfgangmo   Nov-27-09 09:42 AM   #164 
  - Countrywide lost a huge lawsuit  sandnsea   Nov-26-09 10:09 AM   #4 
  - When we bought our home three years ago -  donco6   Nov-26-09 10:09 AM   #5 
  - And, people forget that even a 'affordable' home is very expensive  debbierlus   Nov-26-09 10:35 AM   #23 
  - What was affordable may not be anymore with all the rates going up with everything.  glinda   Nov-26-09 11:10 AM   #31 
  - In 1997  TicketyBoo   Nov-26-09 10:59 AM   #30 
  - Same thing with us.  OnionPatch   Nov-26-09 11:42 AM   #41 
  - What about the  skepticscott   Nov-26-09 07:14 PM   #76 
  - Peer pressure?  gorfle   Nov-26-09 09:40 PM   #96 
  - It's not so simple, I have been sold an ajustable before and they lie through their teeth  Go2Peace   Nov-27-09 01:03 AM   #115 
  - It's also that people are illiterate when it comes to banking, and loan officers can prey on that.  Selatius   Nov-27-09 05:37 AM   #128 
  - Everyone was doing it?  skepticscott   Nov-27-09 07:09 AM   #140 
  - See post #128 n/t.  gorfle   Nov-27-09 09:28 AM   #157 
  - this american life- the giant pool of money. an excellent explanation of all  mopinko   Nov-27-09 09:18 AM   #154 
     - thank you thank you  gorfle   Nov-27-09 09:30 AM   #160 
  - yeah, & it was illegal to swap mortgages with other banks without  KakistocracyHater   Nov-27-09 12:26 AM   #112 
  - You forgot the "con" in the ponzi scheme.  fasttense   Nov-27-09 05:44 AM   #129 
  - Well, like I said, I didn't trust them myself.  OnionPatch   Nov-27-09 08:08 AM   #145 
  - What "good old days" are you dreaming of?  jmowreader   Nov-28-09 10:11 AM   #196 
  - Predators is way too nice  Scruffy1   Nov-27-09 09:17 AM   #153 
     - wrong url  Scruffy1   Nov-27-09 09:22 AM   #156 
  - The bank, if it suckered you, would've taken your loan and repackaged it into a security to sell.  Selatius   Nov-27-09 05:29 AM   #126 
  - Maybe we should reframe "foreclosed" to be "getting Bernied (Madoff)  wolfgangmo   Nov-27-09 09:48 AM   #165 
  - Absolutely right  Alcibiades   Nov-26-09 07:15 PM   #77 
  - Kick, Rec and AMEN!  Myrina   Nov-26-09 10:10 AM   #6 
  - People on both ends need to be held responsible  bluestateguy   Nov-26-09 10:10 AM   #7 
  - The seducers and the seduced  BeyondGeography   Nov-26-09 10:17 AM   #12 
  - I'm glad for your good judgment and happy ending. But when homebuyers act like humans  sojourner   Nov-26-09 10:26 AM   #19 
  - Lousy and hysterical analogy  skepticscott   Nov-26-09 07:10 PM   #74 
     - No.  TicketyBoo   Nov-27-09 05:27 AM   #125 
     - In a rape, your right to say no  skepticscott   Nov-27-09 07:01 AM   #139 
        - "Solely with the consumer"?  TicketyBoo   Nov-27-09 10:10 AM   #168 
           - No, they have none  skepticscott   Nov-28-09 08:51 AM   #186 
              - Again,  TicketyBoo   Nov-28-09 09:05 AM   #187 
                 - Are you deluded?  skepticscott   Nov-28-09 09:33 AM   #190 
                    - It's not a rant.  TicketyBoo   Nov-28-09 10:08 AM   #195 
     - good points...i was pissed when i wrote this and thus probably not as rational as could be.  sojourner   Nov-27-09 04:38 PM   #179 
     - I don't deny  skepticscott   Nov-28-09 09:07 AM   #188 
        - i understand (and to a degree agree with) that...... the problem is,  sojourner   Nov-28-09 01:14 PM   #201 
     - dupe delete  sojourner   Nov-27-09 04:40 PM   #180 
  - Agreed  Sherman A1   Nov-26-09 10:49 AM   #28 
  - If "personal responsibility" is a two way street here, the lenders have 5 lanes, borrowers 1  Gormy Cuss   Nov-26-09 11:20 AM   #34 
  - Yep.  TicketyBoo   Nov-26-09 11:34 AM   #39 
  - And was she  skepticscott   Nov-26-09 07:24 PM   #81 
     - Truth be told,  TicketyBoo   Nov-27-09 04:58 AM   #121 
  - exactly.  sojourner   Nov-26-09 11:44 AM   #43 
  - Who ultimately has control  skepticscott   Nov-26-09 07:21 PM   #79 
     - Who has an expectation of a well regulated mortgage market? The borrower.  Gormy Cuss   Nov-27-09 12:07 AM   #111 
     - And what exactly does  skepticscott   Nov-27-09 07:28 AM   #141 
        - Dishonest and fraudulent practices were rampant in the mortgage industry  Gormy Cuss   Nov-27-09 10:54 AM   #173 
           - And as I've stated numerous times  skepticscott   Nov-28-09 09:17 AM   #189 
     - What does the lender have control over? Loan approval.  TicketyBoo   Nov-27-09 05:04 AM   #122 
  - Nigerian Scam Emailers....  jberryhill   Nov-26-09 11:55 AM   #47 
  - I hope you aren't saying  TicketyBoo   Nov-26-09 12:10 PM   #52 
  - No, and I don't sympathize with con men of any type  jberryhill   Nov-26-09 07:29 PM   #82 
  - Con men know, you can't cheat an honest person.  pokercat999   Nov-27-09 06:13 AM   #134 
     - At the very least  skepticscott   Nov-27-09 08:08 AM   #146 
     - That is laughable  quakerboy   Nov-28-09 02:04 AM   #182 
     - Busted, maybe I should have said the EASIEST people to  pokercat999   Nov-28-09 05:39 AM   #184 
     - what the hell? where did that shit come from? are you a con man, and so privvy to the "rules"?  sojourner   Nov-28-09 01:16 PM   #202 
  - Agree 100%.  emilyg   Nov-26-09 06:59 PM   #73 
  - There used to be LAWS that protected people.  Stinky The Clown   Nov-26-09 10:12 AM   #9 
  - It was the most predatory marketing I have ever seen.  YOY   Nov-26-09 10:14 AM   #10 
  - The banks said investing in these houses was good financial sense.  Gold Metal Flake   Nov-26-09 10:16 AM   #11 
  - Adjustable rate mortgages should be illegal.  SPedigrees   Nov-26-09 10:20 AM   #13 
  - The bank didn't do that for you  skepticscott   Nov-26-09 07:41 PM   #85 
  - Maybe not warmer and fuzzier,  TicketyBoo   Nov-27-09 05:35 AM   #127 
     - Thank you. Exactly what I meant.  SPedigrees   Nov-27-09 04:05 PM   #178 
  - Not illegal, just restricted  FreeJoe   Nov-27-09 11:57 AM   #177 
  - Everyone in California has bought more house than they can afford  lunatica   Nov-26-09 10:22 AM   #14 
  - And that's the other issue-- affordability at a time of rapidly escalating sales prices.  Gormy Cuss   Nov-26-09 11:47 AM   #44 
  - Your argument assumes  skepticscott   Nov-26-09 07:44 PM   #86 
     - Nowhere did I state anything of the sort.  Gormy Cuss   Nov-26-09 11:58 PM   #110 
        - One of the problems in and around San Francisco  TicketyBoo   Nov-27-09 05:15 AM   #123 
        - Building up these days is much safer than it used to be.  Gormy Cuss   Nov-27-09 10:44 AM   #171 
        - So what specifically was the  skepticscott   Nov-27-09 08:35 AM   #149 
           - It was a direct response to someone commenting about the SF Bay area market  Gormy Cuss   Nov-27-09 10:46 AM   #172 
  - North Dakota has 4.2% unemployment  Alcibiades   Nov-26-09 07:19 PM   #78 
     - Who's buying these days?  lunatica   Nov-26-09 08:32 PM   #93 
     - That's a great idea...IF you can find a job....(insert sarcasm tag here )  prairierose   Nov-27-09 10:00 AM   #167 
  - I read your subject line and was mentally composing a flame  Warpy   Nov-26-09 10:22 AM   #15 
  - thanks, Warpy, for reading before flaming...  sojourner   Nov-26-09 10:31 AM   #21 
  - i agree with everything you said and I want to add that hope is a powerful drug  dugaresa   Nov-27-09 10:56 AM   #175 
  - I would also blame  quakerboy   Nov-28-09 03:09 PM   #204 
  - I have no sympathy for flippers, though.  QC   Nov-26-09 10:22 AM   #16 
  - It depends on the type of flipper  Warpy   Nov-26-09 10:30 AM   #20 
  - I would moderate even that  quakerboy   Nov-28-09 03:16 PM   #205 
  - There were a lot of these people  Alcibiades   Nov-26-09 07:22 PM   #80 
     - Agreed. n/t  QC   Nov-26-09 10:11 PM   #100 
  - How true. Not one single bank has closed because of bad loans. Not one.  Buzz Clik   Nov-26-09 10:23 AM   #17 
  - I've changed my perspective on this...  jberryhill   Nov-26-09 10:24 AM   #18 
  - Yes, what happened to trust?  KatyMan   Nov-26-09 11:51 AM   #46 
  - The mortgage broker makes more money if he puts you in a larger, riskier mortgage  FarCenter   Nov-26-09 01:19 PM   #63 
     - Exactly  skepticscott   Nov-26-09 08:03 PM   #89 
        - I think people who engage a realtor  TicketyBoo   Nov-27-09 05:45 AM   #130 
           - Unless you engage a buyer's agent  skepticscott   Nov-27-09 07:37 AM   #143 
              - In our town, at least,  TicketyBoo   Nov-27-09 11:48 AM   #176 
  - would you mind sharing what led to change of perspective?  sojourner   Nov-26-09 11:59 AM   #49 
  - Application Of Humility and Compassion  jberryhill   Nov-26-09 10:23 PM   #104 
  - So if a person is not ultimately responsible  skepticscott   Nov-26-09 07:49 PM   #87 
     - Con jobs do take two parties... but...  jberryhill   Nov-26-09 10:27 PM   #105 
  - The industry's bad, but the buyers are NOT blameless.  deadmessengers   Nov-26-09 10:32 AM   #22 
  - I'll tell you as I've told others...glad for you that you have the knowledge that brought you that  sojourner   Nov-26-09 10:39 AM   #25 
  - Please do not put words in my mouth.  deadmessengers   Nov-26-09 10:51 AM   #29 
  - and when you fall victim to someone, something that you DIDN'T have a ready defense? You will take  sojourner   Nov-26-09 11:32 AM   #37 
  - +1  wtmusic   Nov-26-09 12:27 PM   #58 
  - Your argument invalidly assumes  skepticscott   Nov-26-09 07:58 PM   #88 
  - Most people don't go to sales training or have an army of lawyers to cover their ass  AllentownJake   Nov-26-09 11:15 AM   #32 
  - the lack of any conscience...or maybe, a sleepless night now and then? certainly nothing  sojourner   Nov-26-09 11:57 AM   #48 
     - We have encourage socipathic behavior in society  AllentownJake   Nov-26-09 11:59 AM   #50 
        - as a collective, what you say is true. that also pisses me off. society has glorified predators  sojourner   Nov-26-09 12:05 PM   #51 
        - Human nature  AllentownJake   Nov-26-09 12:11 PM   #53 
           - i am proudly not a member of the tribe of those who are stealing or buying politicians  sojourner   Nov-26-09 12:18 PM   #55 
              - There used to be a name for that tribe  AllentownJake   Nov-26-09 12:35 PM   #61 
        - Agreed!  MrsCorleone   Nov-26-09 04:01 PM   #70 
  - But as I said in Post #30 of this thread,  TicketyBoo   Nov-26-09 11:19 AM   #33 
  - Is that a fact?  Missy Vixen   Nov-26-09 11:36 AM   #40 
     - that's the point of this post, actually. I am so sorry for what you're going through.  sojourner   Nov-26-09 11:43 AM   #42 
     - A suggestion,  TicketyBoo   Nov-27-09 05:56 AM   #132 
  - Living on disability here.  Hatchling   Nov-26-09 10:35 AM   # 
  - K&R - well said n/t  Sinti   Nov-26-09 10:35 AM   #24 
  - Friend of mine was an appraiser  Mopar151   Nov-26-09 10:44 AM   #26 
  - I haven't been "told" by any bank or credit union that I can afford  TwilightGardener   Nov-26-09 10:47 AM   #27 
  - Well, you haven't had our experience, then,  TicketyBoo   Nov-26-09 11:29 AM   #36 
     - I guess I haven't. I remember feeling both times like we were LUCKY  TwilightGardener   Nov-26-09 12:34 PM   #60 
        - Again, that was NOT our experience.  TicketyBoo   Nov-26-09 01:52 PM   #67 
  - i have plenty of compassion for those who actually got screwn.  uncle ray   Nov-26-09 11:21 AM   #35 
  - SOME -- not most -- and probably fewer than you think ARE guilty of simple greed.  sojourner   Nov-26-09 11:49 AM   #45 
  - K & R....good post..thank you..  winyanstaz   Nov-26-09 11:33 AM   #38 
  - Problem is, there are lots of people who bought more house than they could afford who are in trouble  earth mom   Nov-26-09 12:17 PM   #54 
  - truth  sojourner   Nov-26-09 12:19 PM   #56 
  - By all means, we can't blame anyone for their part in something.  RB TexLa   Nov-26-09 12:21 PM   #57 
  - you can. or you can look at walking a mile in their shoes. it's a choice of worldviews. one leads  sojourner   Nov-26-09 01:51 PM   #66 
  - After watching small town visitors to NYC get taken by Three Card Monty dealers  SOS   Nov-26-09 02:43 PM   #69 
  - Some did. But there was a general mentality that forms like in any bubble.  DuaneBidoux   Nov-26-09 12:28 PM   #59 
  - "Buying More House" conjures up McMansions.  juno jones   Nov-26-09 01:29 PM   #64 
  - that's what I'm saying. the meme of personal responsibility has  sojourner   Nov-26-09 01:49 PM   #65 
  - Thank you  Political_Junkie   Nov-26-09 06:10 PM   #72 
  - There were people who did this: mainly very well off people  Alcibiades   Nov-26-09 07:13 PM   #75 
  - AMEN, Alcibiades!!!  Mimosa   Nov-28-09 05:14 AM   #183 
  - Some of the anger comes from those of us who feel priced out by them  Recursion   Nov-26-09 07:31 PM   #83 
  - It is always refreshing to know that "tough love" is alive  Kid Dynamite   Nov-26-09 07:35 PM   #84 
  - A pox on the skunk that unrec'ed this!  Patchuli   Nov-26-09 08:03 PM   #90 
  - It's people who can't afford a house at all  treestar   Nov-26-09 08:22 PM   #91 
  - I'm thankful for your message,k*r  autorank   Nov-26-09 08:24 PM   #92 
  - The banks were given so much TARP money with no strings attached.  Riley18   Nov-26-09 08:32 PM   #94 
  - "All the banks are going to do is keep the money"???  boppers   Nov-27-09 01:33 AM   #118 
  - K&R!!!  SammyWinstonJack   Nov-26-09 08:36 PM   #95 
  - People were practically browbeaten into buying houses  Lydia Leftcoast   Nov-26-09 09:52 PM   #97 
  - Rec.  bertman   Nov-26-09 09:58 PM   #98 
  - Agreed, this is not the time for minor fine tuning.  pundaint   Nov-26-09 10:06 PM   #99 
  - And the other line "saving up for college". At $12000+ per year, for lowt wages, nobody would be ABL  Deja Q   Nov-26-09 10:14 PM   #101 
  - I agree and disagree  nini   Nov-26-09 10:17 PM   #103 
  - I did buy much more home than most could afford...  bobshin   Nov-26-09 10:53 PM   #106 
  - FIGHT BACK  annm4peace   Nov-26-09 10:56 PM   #107 
  - thank you n/t  rumpel   Nov-26-09 11:16 PM   #108 
  - Agreed. Was there not a time that the banks were not allowed to loan you money  gristy   Nov-26-09 11:22 PM   #109 
  - Banks were NEVER  skepticscott   Nov-27-09 08:01 AM   #144 
     - my how you parse....restrictive = not allowed and it matters not why. consumers were unaccustomed to  bettyellen   Nov-27-09 09:21 AM   #155 
        - You can call it parsing  skepticscott   Nov-27-09 09:42 AM   #163 
           - it doesn't make me feel anything. fact is the rules changed +despite Bloomberg et al, consumers  bettyellen   Nov-27-09 10:20 AM   #169 
  - The philosophy today is: anything any shark can get away with is ok.  Waiting For Everyman   Nov-27-09 12:54 AM   #114 
  - The "house-bubble" would-be-buyers are the ones in a real pickle  SoCalDem   Nov-27-09 01:14 AM   #116 
  - Looking at it that way  arikara   Nov-27-09 01:39 AM   #119 
  - Besides, the bad mortgages only caused a small part of the problem.  JDPriestly   Nov-27-09 01:27 AM   #117 
  - I remember house shopping with my hubby long ago.  JNelson6563   Nov-27-09 05:49 AM   #131 
  - Fundy's have been encouraging people to buy more than they can afford  era veteran   Nov-27-09 06:21 AM   #135 
  - Read Nance Gregg's article today......she calls it "lack of conscience".......n/t  secondwind   Nov-27-09 06:35 AM   #136 
  - The "laissez faire" crowd would decriminalize flim-flam scams.  DailyGrind51   Nov-27-09 06:59 AM   #137 
  - None  skepticscott   Nov-27-09 09:55 AM   #166 
  - That's right, and if any one of us loses his/her job at any time,  Trailrider1951   Nov-27-09 06:59 AM   #138 
  - Why is it then that only some people were "victimized" by dishonest banks and  Bentcorner   Nov-27-09 07:28 AM   #142 
  - I don't know where to begin with you.  TheCowsCameHome   Nov-27-09 08:12 AM   #147 
     - Why thank you. Thank you very much.  Bentcorner   Nov-27-09 09:00 AM   #150 
  - The do bear some responsibility though.  alarimer   Nov-27-09 08:32 AM   #148 
  - +1  Kaleva   Nov-27-09 09:29 AM   #158 
  - If the broker told them they could afford it, they are not to blame!  ecstatic   Nov-27-09 10:29 AM   #170 
  - I agree 100%  Don Draper   Nov-27-09 09:01 AM   #151 
  - Besides it is a repuke talking point.  kenfrequed   Nov-27-09 09:10 AM   #152 
  - It's the nature of bubbles  Turbineguy   Nov-27-09 09:29 AM   #159 
  - "...where is any sense of compassion in this world?"  KansDem   Nov-27-09 09:31 AM   #161 
  - not really..........and that's the sad answer to the question, isn't it?  sojourner   Nov-27-09 04:46 PM   #181 
  - Even my credit union  quaker bill   Nov-27-09 09:39 AM   #162 
  - Sorry, but personal responsibility does play an important role here  MadHound   Nov-27-09 10:54 AM   #174 
  - I'm sick of idiots who bought more house than they could afford  Taitertots   Nov-28-09 07:53 AM   #185 
  - These are right wing talking points  treestar   Nov-28-09 09:58 AM   #192 
  - Banks making loans available is a good thing  Taitertots   Nov-28-09 10:31 AM   #200 
  - I agree - I thik the banks need some blame, but basically, people didn't do their homework.  Rabrrrrrr   Nov-28-09 10:05 AM   #194 
  - I didn't buy a house during the bubble because I knew that I could not afford one.  QC   Nov-28-09 10:03 AM   #193 
  - Neither did I and now we are being asked to pay for their over spending n/t  Taitertots   Nov-28-09 10:23 AM   #199 
     - who is asking you for anything? fine to give money to bankers, no strings. fine to bail out AIG. but  sojourner   Nov-28-09 03:53 PM   #206 
  - The scheme was interest only or low mortgage payments and escalating home prices.  Fla Dem   Nov-28-09 10:17 AM   #197 
  - Not all those people were duped. I bought a house years ago. I knew what Icould afford.  Honeycombe8   Nov-28-09 10:23 AM   #198 
 

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