topic Re: Anyone else glad to see things collapsing? Including house prices? in Credit in the News

Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 15:21:09 GMT

While I'd like to see the execs and CEOs loose more, and more people in jail... does anyone else feel relief now that things are collapsing? I've known this was going to happen for years thanks to housing bubble blogs... but I'm kind of glad to see greedy people getting dirt kicked in their faces. Too many useless people making too much money, doing nothing to contribute to society.

I look forward to 50% off of the housing prices, which is destined to happen. The mania was a fallacy, and the ill gotten gains deserve to be lost.

And I still think the more you make the less work you really do. The janitors are probably more productive than the CEOs, they are just figure heads that rode a wave of good times.

Re: Anyone else glad to see things collapsing? Including house prices?

haulingthescoreup — Tue, 30 Sep 2008 16:57:55 GMT

Kinda tough on people like my mother, who was already battered by the stock market, and was mentally reserving the equity in her home for any necessary back-up.

I agree that the housing market was insanely over-inflated in many areas, and that gamblers with computers have been rewarded for actions that led to the current crisis, but I'm asking you to consider that everyday people, including many here on the forums, are being hurt by this.

So please temper your bitter glee with a bit of compassion.

Re: Anyone else glad to see things collapsing? Including house prices?

MidnightVoice — Tue, 30 Sep 2008 17:08:21 GMT

bubbleboy wrote:
but I'm kind of glad to see greedy people getting dirt kicked in their faces. Too many useless people making too much money, doing nothing to contribute to society.

For every one of those being hurt there will be a hundred or so ordinary, boring, hard working folks getting clobbered, losing health insurance and facing a terrible future with vastly reduced retirement savings.

Not a cause for celebration as far as I am concerned

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 17:08:26 GMT

@haulingthescoreup wrote:
Kinda tough on people like my mother, who was already battered by the stock market, and was mentally reserving the equity in her home for any necessary back-up.

I agree that the housing market was insanely over-inflated in many areas, and that gamblers with computers have been rewarded for actions that led to the current crisis, but I'm asking you to consider that everyday people, including many here on the forums, are being hurt by this.

So please temper your bitter glee with a bit of compassion.

Can we call this "post of the day?"

Too many people here are thinking that the blow-out just hurts the rich folks ... unfortunately, that's not the case.

I dare anyone expressing rapture over the supposed downfall of the rich to actually cite an example of where only a rich jerk was affected. Even if one example can be found, I'll bet that once you pull the rich jerk out of the rubble, you'll find oodles of innocent poor folk crushed under him like a bug.

This ain't something to be happy about, folks.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 17:51:27 GMT

I am! The majority of those "hurting" are the ones likely trying to live above their means. They probably have no cash reserves, monthly payments on crap they don't need, oversized homes and work just hard enough to get by. Maybe if they sold all of the junk made in China they purchased when times were "great" they could dig themselves out. Lets face it, America is going to crap because of the way Americans choose to live their lives. I think this is a reality check and long overdue at that. I see this country in a whole different light that what was portrayed to me as a child. This place is nowhere near being able to call itself the greatest. Pathetic.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:00:24 GMT

Wow...thanks for starting this thread to remind me of how this is going to crush what I do.

I'm a housing rehabber.
And what you just said is like the apocalypse to us.

There are some choice words I'd love to use but I won't.

Small business facing a severe credit crunch in a market that is surely going to get hurt...having a hard time as it is to get credit because I don't punch a clock everyday...

Yeah I'm so glad the whole country is about to be destroyed in a depression worse than the Great Depression....

Do people think before they post things like this?
Maybe you don't like those CEOS and all that and the dumb choices of the companies to pay them like that but it affects more than just some guy in a Maserati. It hurts the guy driving a Jeep just trying to keep food on the table and trying to build a family. And it's not like CEO pay was the only problem.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:04:55 GMT

@Anonymous wrote:
I am! The majority of those "hurting" are the ones likely trying to live above their means. They probably have no cash reserves, monthly payments on crap they don't need, oversized homes and work just hard enough to get by. Maybe if they sold all of the junk made in China they purchased when times were "great" they could dig themselves out. Lets face it, America is going to crap because of the way Americans choose to live their lives. I think this is a reality check and long overdue at that. I see this country in a whole different light that what was portrayed to me as a child. This place is nowhere near being able to call itself the greatest. Pathetic.

Um ... no, the majority of the ones that'll hurt will be folks investing for retirement (and if you consider socking away every penny you can TODAY so you don't have to eat dog food in 10 years "living above their means," well ....). o_O

Just because all this started with the mortgage fiasco doesn't mean that it's gonna end with them. It's gonna end with YOU paying higher taxes, higher health premiums, and more at the grocery store and gas stations. And it's probably gonna end with you spending the rest of your days in a crappy "home" 'cause your share of social security was used to salvage everything.

Now, if you're glad you're gonna get boned six ways to Sunday, who am I to argue? o_O

Enjoy!

Re: Anyone else glad to see things collapsing? Including house prices?

haulingthescoreup — Tue, 30 Sep 2008 18:06:40 GMT

@Anonymous wrote:

I am! The majority of those "hurting" are the ones likely trying to live above their means. They probably have no cash reserves, monthly payments on crap they don't need, oversized homes and work just hard enough to get by. Maybe if they sold all of the junk made in China they purchased when times were "great" they could dig themselves out. Lets face it, America is going to crap because of the way Americans choose to live their lives. I think this is a reality check and long overdue at that. I see this country in a whole different light that what was portrayed to me as a child. This place is nowhere near being able to call itself the greatest. Pathetic.

Are you serious? Do you know any single parents, anyone trying to work their way out of poverty, any new graduates in their first jobs, any newly divorced or widowed people, any real people, in fact? These are the people who will be immediately slammed by difficulty in getting mortgages and in keeping jobs in a shrinking market.

I suppose I can understand gloating over watching the big boys and big boy wanna-bes have their pretensions punctured (even though the gloating is nauseating to watch), but it's ridiculous to pretend that the only people being hurt are those who somehow deserved it.

This will ripple out and touch everyone in one way or another. The mom-and-pop grocery where you get your morning coffee, paper and yogurt, the foundations that donate money to colleges for financial aid, the income tax funding that goes toward Medicare and Medicaid --it's all interconnected.

Unless you're living on an island somewhere with a chimp on a bicycle to power your laptop, you will feel this one way or another.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:08:29 GMT

@Anonymous wrote:
I see this country in a whole different light that what was portrayed to me as a child. This place is nowhere near being able to call itself the greatest. Pathetic.

And (this is going to be one of the reasons I will NEVER be invited to be a mod), BTW, unless someone's holding a gun to your head, PLEASE feel more than free to leave this "pathetic" country.

After all, if you take this much glee at the thought of families being unable to feed their kids or seniors having to eat dog food to survive, you must hate it a LOT here.

Thanks for playing. Buh-bye, now.

And FTR, being able to say things like this is one reason I'm GLAD I'm not a mod!!

Re: Anyone else glad to see things collapsing? Including house prices?

marty56 — Tue, 30 Sep 2008 21:42:12 GMT

MidnightVoice wrote:
Not a cause for celebration as far as I am concerned

Unless my neighbor goes down or at least his mutt gets Michael Vicked as result of the credit crunch.

Message Edited by marty56 on 09-30-2008 02:42 PM

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:27:31 GMT

Have you ever looked into what it would take to depatriate from this great land of the free? Do you think that you are free to rome the earth like a free entity? Not if you happen to have born in the geographical region known as the good ol' US of A. Look into it. They won't let you leave until they get their MONEY! And don't expect a refund on the thousands you gave towards that worthless Social Security money pit.

It's funny, my delusional view of this country has provided me with many means in which I can take care of my family without expecting your systems to do it for me. I have a small modest home that's paid for (imagine that), no dependence on Social Security in my future, no vehicle payments though we drive nice dependable vehicles, we seize every opportunity to save money by growing/canning our own vegetables, burn wood for heat and make every dime I can in cash. We also believe in buying used to avoid Uncle Sam's greedy palms whenever possible. Our savings relect this lifestyle.

It's about choices and we choose to not contribute to the downfalls of this society. I do not blame the CEO's as it was not my money for the most part that lined their pockets. They played the American public for fools and won. Don't be angry with me because this dilema has less of an impact on my life than yours.

Re: Anyone else glad to see things collapsing? Including house prices?

fused — Tue, 30 Sep 2008 18:33:10 GMT

bicylindrico wrote:

Have you ever looked into what it would take to depatriate from this great land of the free? Do you think that you are free to rome the earth like a free entity? Not if you happen to have born in the geographical region known as the good ol' US of A. Look into it. They won't let you leave until they get their MONEY! And don't expect a refund on the thousands you gave towards that worthless Social Security money pit.

It's funny, my delusional view of this country has provided me with many means in which I can take care of my family without expecting your systems to do it for me. I have a small modest home that's paid for (imagine that), no dependence on Social Security in my future, no vehicle payments though we drive nice dependable vehicles, we seize every opportunity to save money by growing/canning our own vegetables, burn wood for heat and make every dime I can in cash. We also believe in buying used to avoid Uncle Sam's greedy palms whenever possible. Our savings relect this lifestyle.

It's about choices and we choose to not contribute to the downfalls of this society. I do not blame the CEO's as it was not my money for the most part that lined their pockets. They played the American public for fools and won. Don't be angry with me because this dilema has less of an impact on my life than yours.

Are you a Dave Ramsey fan?

Re: Anyone else glad to see things collapsing? Including house prices?

MidnightVoice — Tue, 30 Sep 2008 18:33:52 GMT

Wonderin wrote:
BTW, unless someone's holding a gun to your head, PLEASE feel more than free to leave this "pathetic" country.

Some of us came here on a volunteer basis

Re: Anyone else glad to see things collapsing? Including house prices?

AyalaZero — Tue, 30 Sep 2008 18:37:21 GMT

It's ridiculous to see that houses that sold for $120K a decade ago were selling for $350 two years ago. I don't live in an island, therefore I know that bad loans, that I'm sure had some indication they were high risk, were being signed. Bottom line, but two years ago I could have bought any $450K house, now with higher scores, I can't buy any $350K house. Why? Because my credit factors they should have been looking at then, tells them I simply can't afford it. And, you'll be fine, unless you plan to use all your retirements in the next 2-5 years. The markets will rebound, as they have already today. I'm not trying to offend anyone, just look at the whole picture. If we bail anyone out, they will do it again. This way, the strong survive, and the economy become more stable in the long-run.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:38:10 GMT

Ramsey fan? Can't say that I am as I don't know exactly what he's all about. Maybe he is a fan of myself?

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:39:20 GMT

@MidnightVoice wrote:

@Anonymous wrote:
BTW, unless someone's holding a gun to your head, PLEASE feel more than free to leave this "pathetic" country.

Some of us came here on a volunteer basis

Yep, and you better BET that I freakin' appreciate your patootie so MUCH more than I do those who were born here and are too durn dense to appreciate it.

And I ain't just saying that 'cause I like you.

Darlin', one of YOU is worth a gajillion of HIM.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:41:59 GMT

@Anonymous wrote:
Have you ever looked into what it would take to depatriate from this great land of the free? Do you think that you are free to rome the earth like a free entity? Not if you happen to have born in the geographical region known as the good ol' US of A. Look into it. They won't let you leave until they get their MONEY! And don't expect a refund on the thousands you gave towards that worthless Social Security money pit.
It's funny, my delusional view of this country has provided me with many means in which I can take care of my family without expecting your systems to do it for me. I have a small modest home that's paid for (imagine that), no dependence on Social Security in my future, no vehicle payments though we drive nice dependable vehicles, we seize every opportunity to save money by growing/canning our own vegetables, burn wood for heat and make every dime I can in cash. We also believe in buying used to avoid Uncle Sam's greedy palms whenever possible. Our savings relect this lifestyle.
It's about choices and we choose to not contribute to the downfalls of this society. I do not blame the CEO's as it was not my money for the most part that lined their pockets. They played the American public for fools and won. Don't be angry with me because this dilema has less of an impact on my life than yours.

Hmmm ... I've traveled abroad most of my life. So has DH. Not ONCE have we ever been denied egress. Even been to Saudi a few times (which at the time, was a bit of a "red flag").

But then, we've never done anything illegal, either. So, go figger. :/

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:44:19 GMT

Depatriating is not traveling. I guess you have to explain yourself to everyone.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:45:43 GMT

@AyalaZero wrote:
It's ridiculous to see that houses that sold for $120K a decade ago were selling for $350 two years ago. I don't live in an island, therefore I know that bad loans, that I'm sure had some indication they were high risk, were being signed. Bottom line, but two years ago I could have bought any $450K house, now with higher scores, I can't buy any $350K house. Why? Because my credit factors they should have been looking at then, tells them I simply can't afford it. And, you'll be fine, unless you plan to use all your retirements in the next 2-5 years. The markets will rebound, as they have already today. I'm not trying to offend anyone, just look at the whole picture. If we bail anyone out, they will do it again. This way, the strong survive, and the economy become more stable in the long-run.

If you're not rampantly, gleefully, ecstatically enjoying the situation, I don't see how you'd be offending anyone.

It's one thing entirely to say that this was coming. Or that it's a "necessary evil." Or even to poke a little fun at the jerks who're responsible for this mess.

It's another thing to discount the innocent people this all hurts. It's something else to enjoy the misery of the luckless many. And it's another thing to be a self-righteous creep.

Re: Anyone else glad to see things collapsing? Including house prices?

Anonymous — Tue, 30 Sep 2008 18:47:40 GMT

@Anonymous wrote:
Ramsey fan? Can't say that I am as I don't know exactly what he's all about. Maybe he is a fan of myself?

I was going to post something really horrible. Something really insulting. But, you know what? You're not worth it. Not one tiny bit.

Just know that no one in their right mind would be taking such pleasure at the situation -- especially when the victims have been pointed out.

I'm done with you. Be a cretin in peace.