02-19-2009, 01:08 AM
Gutenberg wrote:
The number of foreclosures going on is turning everyone's financial arrangements south. The vacants are an incredible drag on neighborhoods.
None of the people who are pleading for the government to save them from foreclosure will come out of this with a decent credit record and full equity in their properties. They are pretty much ruined. Isn't that a good enough pound of flesh for the righties? I guess not! The debtors have to be turned out on the street too, and their neighbors have to suffer the aggravation of the vacant properties. I don't understand that point of view at all.
The reason you don't understand that point of view at all, is because no one here has that point of view. Vikm is closest to my point of view, and I see no resemblance between that and the one you're talking about.
I know more people than I could name who have houses that are seriously bigger than the house Joe Albertson lived in (the founder of Albertson's grocery), who bought expensive cars, boats, 4 wheelers, etc, in addition. They are in big trouble right now. You mean to tell me that I'm a terrible person because I don't want to help them keep everything they have? Where we differ is that you think most of these people are victims, whereas I think most of them screwed up. I have good friends who bought a house in phoenix at the height of the bubble, and had to walk away (no way to sell). They're going to be fine because they were not "living large".
People killed the golden credit goose. Now they're after my future earnings. What happens when you and I don't have enough money to pay our bills? Who's going to pay the taxes to bail us out? Btw, why are vacant houses such an incredible drag on neighborhoods? There are several houses in our neighborhood that I wish were vacant.