@demi wrote:
Having grown up in the bay area, and living houses that my parents paid 22 thousand for that are now worth 1.5 million (not they made any money on it), you end up with a certain mentality that real estate is always going to go up....that and the over all price of what 20% down would be, and it almost becomes a necessity to be able to use some type of creative financing. Face it, most times in the last 30 years your house, in the Bay Area and most of California are going to be increased in value.
That said, what peeves me is the whole concept that the banks are not helping people out. I keep hearing about people who are trying to get thru to their banks before it becomes critical, and the banks are blowing them off until they are already in default. Makes no sense to me...don't you think it would be to the banks benefit to refinance instead of foreclosure?
The entire housing fiasco was staged by the government and Greenspan back when. Who do you think is ending up owning all these homes? The banks. Who owns all the banks? The multi-national corporations; the same corporations who own the defense companies and are in the business of keeping a war going someplace at all times and supplying arms to both sides. Welcome to the Imperial States of America. The middle class is being eliminated, slowly but surely. It looks like a scenario from a science fiction movie but it's not; it's the new reality. These corporations are intent on ruling the world and at the rate they’re going it appears as if they’re doing a darn good job of it. The U.S. is not what it once was. There's no way that inflation has kept up with earnings. That started disappearing in the 1950’s. The trouble is, no one noticed and now it's too late. Sad, but true. The American Dream is becoming a nightmare.
