Here in sunny south Florida we have been dealing with a very troubled economy due to the large amount of foreclosures. The rising cost of food and gas are also taking it's toll on us.
It's kind of sad when you read everyday on the news that the foreclosures keep rising steadily , and yes that does have something to do with Realtors giving out loans to just about anyone with a pulse who didn't necessarily need to have excellent credit to purchase a house , which coincidentally, turned out to be a very bad idea , for everyone , not just for the people who got approved for a sub prime loan.
Those people who purchased homes to try to make a profit from them by inflating the price, even though the true value of the house was still what it was before the inflating began , also caused the housing market to collapse.
Well, I say, what the hell is going on in the minds of people who should know that a house is just a house? When did people decide that their house should be used as an ATM? Is it because the banks figured out a new way to fool these people into thinking that re-mortgaging their homes would be a good idea, but for who? The people, or the bank? Think about that one for a moment.
How do we expect to have a good sense of feeling about ourselves if we don't have some kind of moral standards that would keep us from becoming greedy? I for one have never gotten greedy , I am not a home owner, I am a renter. I am pretty sure at this point in time that I am doing the right thing by renting instead of owning a home. As the weeks and months go by, there will be much more turmoil with more and more foreclosures and even bankruptcy's from businesses that relied on the booming housing market for higher profits.
Some say we are heading for doomsday, others say, 'hell no', we are headed for a turn around with the economy, so what do you say?
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