How badly has your home value been impacted by the recession?

[rustic2]

Now you got me started!

Collectively, this was perhaps the biggest swindle in the nation's history. And now I read the lenders left with foreclosures and walkaways aren't even putting them on the market because of the glut. The banks get bailed out, and we're stuck with the bill -- and with paying back our loans.

We took a practical approach to buying our house, got a good interest rate on a 30-year fixed loan, weren't trying to speculate or flip it -- and we're left with nothing. Less than nothing.

With the number of vacancies in Redford, the strong likelihood the township will be forced to lay off cops and firefighters, and the general decline of the Detroit area in general and the inner-ring suburbs in particular, there is no chance our house will regain its value in at least 15 years. I don't have the resources to wait that long.

I can't understand why people aren't marching in the streets over this. I fear -- and hope -- that many haven't yet awakened to the problem.

[R8RBOB]

Now you got me started!

Collectively, this was perhaps the biggest swindle in the nation's history. And now I read the lenders left with foreclosures and walkaways aren't even putting them on the market because of the glut. The banks get bailed out, and we're stuck with the bill -- and with paying back our loans.


I can't understand why people aren't marching in the streets over this. I fear -- and hope -- that many haven't yet awakened to the problem.

I have a theory. It's off the wall so bear with me.

From the fall of 2008 to the spring of 2009, what were the people angry about? The banks....

A major reason why Obama was elected was because the people was angry that the banks were able to run wild during the Bush era [[as well as Clinton, first Bush and Reagan) and tank the economy. People were outraged that these banks got bailed out yet the average joe is told to get out of the bank's house. President Obama had a mandate to get the banks in line yet, the banks are the ultimate. They have all the money including the taxpayers and they suggested that the government focus on something that would distract the people anger towards the banks. What would that be? Healthcare!!!!

From the summer of 2009 to today, people have protested about Obamacare or Obama himself. Tea parties have been formed to protest taxes, Obama, healthcare, Obama, the wars, Obama, civil liberies, Obama, etc... yet at the same time these people are either getting thrown out of their homes or their property values have decreased but they're outraged about healthcare. Your last comment about marching in the streets. I believe they would be marching and protesting but they are a bit distracted at the moment.


http://r8rbob.wordpress.com

[English]

I have a theory. It's off the wall so bear with me.

From the fall of 2008 to the spring of 2009, what were the people angry about? The banks....

A major reason why Obama was elected was because the people was angry that the banks were able to run wild during the Bush era [[as well as Clinton, first Bush and Reagan) and tank the economy. People were outraged that these banks got bailed out yet the average joe is told to get out of the bank's house. President Obama had a mandate to get the banks in line yet, the banks are the ultimate. They have all the money including the taxpayers and they suggested that the government focus on something that would distract the people anger towards the banks. What would that be? Healthcare!!!!

From the summer of 2009 to today, people have protested about Obamacare or Obama himself. Tea parties have been formed to protest taxes, Obama, healthcare, Obama, the wars, Obama, civil liberies, Obama, etc... yet at the same time these people are either getting thrown out of their homes or their property values have decreased but they're outraged about healthcare. Your last comment about marching in the streets. I believe they would be marching and protesting but they are a bit distracted at the moment.

http://r8rbob.wordpress.com

You know, you may be on to something here.

I got swept up by the "hope and change" myself. Now I'm wondering who Reagan, Bush I, Clinton, Bush II, and Obama are really working for. I never thought I'd be a conspiracy theorist, but I never thought I'd see the dismantling of the American middle class and average Americans justifying the loss of jobs, wages, and property values.

[eno]

I have a theory. It's off the wall so bear with me.

From the fall of 2008 to the spring of 2009, what were the people angry about? The banks....

A major reason why Obama was elected was because the people was angry that the banks were able to run wild during the Bush era [[as well as Clinton, first Bush and Reagan) and tank the economy. People were outraged that these banks got bailed out yet the average joe is told to get out of the bank's house. President Obama had a mandate to get the banks in line yet, the banks are the ultimate. They have all the money including the taxpayers and they suggested that the government focus on something that would distract the people anger towards the banks. What would that be? Healthcare!!!!

From the summer of 2009 to today, people have protested about Obamacare or Obama himself. Tea parties have been formed to protest taxes, Obama, healthcare, Obama, the wars, Obama, civil liberies, Obama, etc... yet at the same time these people are either getting thrown out of their homes or their property values have decreased but they're outraged about healthcare. Your last comment about marching in the streets. I believe they would be marching and protesting but they are a bit distracted at the moment.


http://r8rbob.wordpress.com

Perhaps you haven't seen the bill put forward by Senator Dodd to reform Wall Street and rein in the banks. http://www.nytimes.com/2010/03/16/bu...html?th&emc=th

[bailey]

I have a theory. It's off the wall so bear with me.

From the fall of 2008 to the spring of 2009, what were the people angry about? The banks....

A major reason why Obama was elected was because the people was angry that the banks were able to run wild during the Bush era [[as well as Clinton, first Bush and Reagan) and tank the economy. People were outraged that these banks got bailed out yet the average joe is told to get out of the bank's house. President Obama had a mandate to get the banks in line yet, the banks are the ultimate. They have all the money including the taxpayers and they suggested that the government focus on something that would distract the people anger towards the banks. What would that be? Healthcare!!!!

From the summer of 2009 to today, people have protested about Obamacare or Obama himself. Tea parties have been formed to protest taxes, Obama, healthcare, Obama, the wars, Obama, civil liberies, Obama, etc... yet at the same time these people are either getting thrown out of their homes or their property values have decreased but they're outraged about healthcare. Your last comment about marching in the streets. I believe they would be marching and protesting but they are a bit distracted at the moment.


http://r8rbob.wordpress.com

Whenever I see the teabaggers and listen to Fox I think of two sayings.
"Never underestimate the power of stupid people in large groups"
and,
"Fascism will come to America wrapped in the flag and carrying a cross."

but, more to the point of the thread, it's interesting that no one has a problem with bubbles until the burst. I mean when people were seeing 10% year over year gains and were treating their houses like ATMs... no one was talking about marching in the streets. It was time to liiiiiiiiive!

[Hermod]

I can't understand why people aren't marching in the streets over this. I fear -- and hope -- that many haven't yet awakened to the problem.

Who would you march against??

The banks who got stuck with worthless loans?

The flippers and speculators who bid the prices up?

The builders and developers who overbuilt?

The folks that took out "liars loans" to get into a house they couldn't afford?

The grifters who committed mortgage fraud?

The real estate brokers who pushed clients into houses they couldn't afford?

In the collapse of a bubble, there are lots of guilty parties