User profile

mangojango

They "looked" great during Clinton bcause of the overspeculation of the Dot.com investors, and then the bubble burst, just like this real state bubble that we are seeing burst now, which we were warned about for years. Starter homes for $400,000 with 5% down and 5% Arm? Since when is that not a recipe for catastrophe unless you're trying to flip then take the money and run?

The fundamentals ARE strong because you still money for luxuries like a computer and internet access. Though f you listen to Obama, you'd think the sky was falling and he is the World Saviour.

Maybe if people who couldn't really afford the homes they "bought" had shown less greed in not buying beyond their means (in a smaller house), and realtors hadn't overinflated home values, and maybe if the Democrat-controlled congress that opposed regulation and the Republican administration had used better long-range planning... maybe... maybe...

Seems like people of either party succumbed to greed, including those who choose higher risk investment funds. From my point of view, there will be financial storms like this that are only foreseeable in onset in hindsight - who knows when the next Katrina or Ike will hit? Why do some folks return and keep rebuilding where there is high risk? Perhaps for the thrills that go along with it. While others settle close just because they see other people there, think it's safe without ever really knowing the true risk -- much like you. Or maybe you knew the risk all along but prefer to blame others?