Colli Real Estate

who agrees with me on the economy ?

I have this strange feeling all this “fear” both in the housing markets and stock markets are put out there so people panic and sell, then all the snakes and corrupt people swoop in and buy things cheaper. The home loan mess in my mind was “put” out there to cause this on purpose. No I don’t feel bad for the greedy people who felt the need to keep up with the jone’s, I do feel bad for people who were conned or “sold” these mortgages by crooks. Remember one thing:
if the loans are so bad, why does the gov’t allow them? my opinion………because they know a certain number of people will not be able to afford them thus causing foreclosure, in return the good ol boys get the house cheaper. It’s my opinion and i’ve seen it happen.
just like cigarettes… why is it legal if they know it causes cancer?? same with alcohol ??
to me its all a joke. if they “care” so much, why is it legal.

The government isn’t there to protect people from themselves, so they can’t ban an entire class of voluntary contracts. They also can’t ban vices, like smoking, drinking alcohol, or eating too much sugar. People have to be responsible for their own lives at some point.

But the banks did know that many loans would go into foreclosure; they were hoping that property values would keep increasing. If the homeowners fell behind, the foreclosure didn’t create a loss, since the property could be sold on the open market for a profit. Once too many foreclosure started occurring at once, though, property values declined and fewer buyers were available.

Of course, the “insiders” like the banks and hedge funds had either made their money long ago or got a free handout by the Federal Reserve. They created bad loans, hoping they would default, and then acted shocked when the loans went into foreclosure, and cried “Wolf!” in order to get a bailout.

And anyway, if the government made things that are bad for you illegal, what would you be left with? Prohibition didn’t work in the early part of the 1900s and it doesn’t work now. Drugs are illegal, people still do them. Bad contracts are not in anyone’s interest, people still sign them. Driving erratically is illegal and dangerous, people still do it. Government is very poor and completely ineffectual at making someone a better person.

Also, government intervention in the marketplace fostered the environment that made these bad loans possible. The Fed manipulated interest rates down and banks and borrowers got together to take advantage. It stimulated the economy, so any bad loans were simply ignored, if not condoned. If the interest rates hadn’t been brought down artificially, and inflation took hold in the housing market, people might not have qualified for these awful loans.

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