The truth is out there, but will it be a truth that remains out there? Or, will the people who haven't found it yet finally open their eyes and become more aware, so that they can try to make a difference? Also they should be able to live a full and meaningful life without having to live like a homeless person because of making bad decisions for themselves when it comes to their well being.
I cannot express enough about how important it is to do some in depth research on how we could have possibly gotten to this point, without any regular person (meaning a person who does not work within the current government administration) who hasn't noticed that the numbers that the, so called experts, were putting out there for us to see, that didn't actually match up to what was really going on out there, with real time economic issues.
There are so many untrue facts out there, as well as, the real true facts that someone whose IQ is on the lower end of the scale, may not be able to tell the difference between the reality that they have been experiencing, compared to the reality that the govt administration is wanting you to believe you are experiencing, because they fixed the economic numbers so badly, and because that was done, they won't attempt to change things to make it a little more tolerable for the regular people to live a decent and prosperous life, instead we are being forced to live like we are always on the edge of poverty. They seem to want everyone to believe that everything is just fine.
I like to think of myself as one of the smarter people who does take the time to find out why the housing market is collapsing, and what is causing the credit crunch, and why Wall Street is on the verge of collapsing.
In this blog I will give you some clues about one of these collapsing things, and it will be about the collapsing housing market, which anyone with common sense will end up saying to themselves after reading about it in this blog, " Wow, I should have seen this coming!"
First of all, when it comes to the housing collapse, a house is just a house, not to be flipped to a higher price to then be sold to someone else, who then proceeds to do the same thing to someone else, and so on and so forth. It makes me wonder what kind of genius thought this one up, because if the housing prices keep steadily going up, and our wages are either staying the same or even going downward, or when someone gets sick, or even worse, loses his or her job, it will eventually make it so no one, besides the already well to do people, would be able to afford to buy a home because the not so wealthy peoples earned wages wouldn't be high enough to pay back that loan.
Also, these people who took out sub prime loans, excluding the investors, were lead to those type of loans like sheep because they didn't need to prove their incomes, and they also needed very little or no down payment, which wasn't the worst part of this mess.
These people were then told by the Realtor that even though the rates would eventually go up, they would be able to refinance their loans, so that when it was time for the loan to adjust toward a higher rate, the home owner would be able to afford their mortgage payments, which would keep them from having to go into foreclosure.
Well, guess what people, this didn't work for most home loans because it turned out that most of the mortgages had been sold to other banks, who in turn, sold them to other banks, which then, made those loans harder to refinance, therefore, forcing the home owner to go into foreclosure.
So, there you have it people. I hope that this blog helps to put the housing collapse into a new light for you. The wool is slowly being pulled off from our eyes, and we all need to get a message out to our state representative about why we were allowed to be involved in such a deceitful mortgage lending mess which is now causing way to many people to be involved in a foreclosure of their homes, and being forced to rent again or being forced to move in with one of their relatives, or worse yet, becoming homeless.
So, now they say that they will help to bail out the home owners, who are ready to go into foreclosure, and believe me when I say that this bill was passed and NOT vetoed by the president because the bill included bailing out two government financial institution, which will of course get bailed out before very few approved home owners will be. Which also brings me to this point ... This new bill that passed won't save very many home owners, but it will definitely save Fannie and Freddie Mac, which means that our hard earned tax money will go toward bailing out, yet another bank or government owned financial institution.
Do you remember when the Bear Stearns bail out happened a few months ago? If not then you need to refresh your memory by doing a quick research.
We, as tax payers, should be outraged, and should be saying " What the hell? This is not a very good solution, and why should we be held responsible, for irresponsible lending practices?!"
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