South Florida Housing Bubble: VIDEO: Foreclosure of the American Dream

Wednesday, August 1, 2007

Anonymous said...: Sorry, but this isn't your best video post. It's a fluff sympathy piece and I have absolutely no sympathy for the moron who got over their heads during the boom. They got exactly what they deserved.

Most of them are just like that loser lady. They got 100% financing loans that they could only pay because they were in the teaser rate period. They never had the ability to pay the ultimate (real) interest rate that hit them when the teaser expired.

Now, they'll just walk away from their homes and they haven't lost ANYTHING financially. Yeah, they may have bad credit, but they nothing came out of their pockets.

Basically, they got lower-than-market rents that was ultimately subsidized by banks.

Now, after foreclosure, they'll go right back to renting like they did before they bought the overpriced house they could never afford in the first place.

They lose ABSOLUTELY nothing.

And, we're supposed to feel sorry for them?

Not me.

Oh, and, that lame 80's hair band REALLY sucks. I could have done without that.

What's up with the 80's hair band?; August 1, 2007 at 10:32 AM

South Florida Housing Bubble