BF2S Forums No sale: Bank destroys newly built homes

The prices are still ridiculous, and exponentially higher than they were over 50 years ago, even counting inflation. I'd rather not be paying one off until I'm 70, thank you.

You guys think you will be in a good position to buy a house eh?

Wait until cap and trade kicks in.

But, as far as the houses are concerned;

If there is a home, the city may require it to be landscaped, and water costs money.
Squatters come in and live, so the banks have to hire security guards.
The houses are stripped of anything valuable, and it could cost more to fix them than to just start fresh.

You'd think that instead of pouring countless billions into banks that use the funds to buy up smaller banks and squat on the leftover loot, the government would have the sense to buy property and hold the note so that people could live. But no, somehow having millions of newly homeless while the banks get trillions makes more sense.

I'm confused here come somebody explain it to me, if house prices plummet and your house isn't worth a bunch but you still keep it well maintained, you don't plan to move to sell, your mortgage is fixed rate, you don't need an equity loans, and you live within your means, why is it such a bad thing?

Ok that made no sense, I mean why is it considered such a horribly bad thing to happen?

Last edited by Macbeth (2009-05-11 00:17:26)

Macbeth wrote:

I'm confused here come somebody explain it to me, if house prices plummet and your house isn't worth a bunch but you still keep it well maintained, you don't plan to move to sell, your mortgage is fixed rate, you don't need an equity loans, and you live within your means, why is it such a bad thing?

Ok that made no sense, I mean why is it considered such a horribly bad thing to happen?

It's not.. but people HAVE to move all the time. Job loss, pay cuts, growing families, relocations, death .. there are many reasons people are in a crap situation.

When I say many I mean millions.