home loans: Crazy Home Prices!
- 09/08/09 06:04 AM
I was just watching a youtube instructional video about the housing crisis. According to this guys math, housing prices artificially rose up to 60% between 2000 and 2006, while incomes per capita actually went down.
I'm in southwestern Pennsylvania and we, as investors, can still find homes, livable homes in half decent neighborhoods, in the 20 to 30k range. My husband's parents bought their home for less than 10K in 1970 and had it paid off in less than 10 years. My parents in the 80s bough their home for 70K at a horrible interest rate, and just made their … (3 comments)
home loans: Housing Crisis: What Caused It, What Will Fix It
- 03/13/09 07:48 PM
So, if you are like me, you may be wondering exactly what caused the housing problem, who's responsible and why I have to pay for it. As I understand, basically ACORN, and other polictical active organizations forced the banks, with legal action, to loan money to those who otherwise would not qualify for loans, then Fanny Mae and Freddy Mac repackaged these loans into a faulty investment vehicle. Then when too many of these loans defaulted, the banks went bankrupt. Now the government is bailing out the banks, so they don't have to close, with our tax dollars. I found these videos that explain the housing crisis … (2 comments)
I was just watching a youtube instructional video about the housing crisis. According to this guys math, housing prices artificially rose up to 60% between 2000 and 2006, while incomes per capita actually went down.
;)
;)
