2010-08-30 — doctorhousingbubble.com
``If you combine those who are renters and those who have zero mortgage debt, these two groups would make up the majority of households in the U.S. Renters will definitely benefit because they can purchase homes at a lower price without going into incredible amounts of debt. Instead of blowing a large part of their income on the mortgage, they can use freed up disposable income to actually spend in the real economy... Those who have paid off their house win either way. If home prices fall, they will get less for their home but at the same time, other home prices will fall so they can purchase a home at an adjusted level. Many of these people are not looking to move so either way it is a moot point. The only people that are obsessed with home values are those who are now real estate speculators.''
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catherine at 05:59 2010-08-31 said:
only people hurt are real estate investors???? offlmfao - how about the 50-65% DROP in values for taxes, you are going to see your CITY and COUNTY governments disappearing...............states are going to take over city and county governments will be in the history books as luxuries......... 2 layers of government gone - pooof...... how about all those pensions that hold this worthless toxic investment paper? I believe the drop HAS TO HAPPEN, but don't fool yourself to the PAIN that is going to come with those drops..... the foreclosures are not operating in a vacuum.................the pain while we deleverage another 450 trillion is going to cause pain and death. values are down 65% in many areas of Florida............I said they would drop 50% but changed that last year when I said even I didn't realize how horrid this 'agenda' group in charge would be to free enterprise........... and suppose as you say, people that owe nothing on their homes won't be hurt, AHEM.........when the street is empty as the people walk away and you sit pretty in your paid for house, (the only one occupied) it will be a criminal playground....... the city won't want to send police to your empty neighborhood, the street lights will be turned off..............sure you aren't affected, RIGHT........... Permalinkadd a comment | go to forum thread
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