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Rory's comments:
on Soccer City, USA?
posted 3 years, 2 months ago
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on A Homeowner Bailout?
I don't feel sorry for anyone involved. In fact I feel angry that my tax dollars are going to help bail out these people, I'm paying for thier foolishness and greed. It's like I'm are being punished for being responsible. If you make a risky investment and it goes south that's your problem not mine.
When My wife and I moved here 4 years ago everyone (especially our bank who is in bailout trouble now) was pushing us to buy buy buy. We knew people who bought houses they couldn't really afford with loans that were intereast only. They thought they were going to get rich as the real estate rocketed up and resell it. They all thought it was a gold rush we were missing out on. We thought they were crazy, as much as we wanted a house, we knew we couldn't responsibly afford a house at the point we were. We thought the houseing market was overinflated and it was unwise to take on that type of liability.
So now I have to pay my rent and help pay these peoples mortgage so they can stay in a home they never should have bought in the first place? How is that fair?
posted 3 years, 3 months ago
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