Page 1 of 2 12 LastLast
Results 1 to 20 of 22

Thread: Homeowners becoming arsonists

  1. #1
    JetsInsider.com Legend
    Join Date
    Dec 2005
    Location
    Jets Stadium Section 246
    Posts
    37,065

    Homeowners becoming arsonists

    [url]http://www.cnn.com/video/#/video/us/2008/03/14/lawrence.burning.homes.cnn[/url]

    What a mess this whole thing has become!

  2. #2
    I told you people, the Earth has a fever.

    Now homes are spontaneously combusting.


    -A.Gore
    Last edited by SanAntonio_JetFan; 03-14-2008 at 04:42 PM.

  3. #3
    shouldn't the government pay these peoples mortgages for them?


    How does our government expect them to pay the mortgage they signed for?

    Everybody knows the mortgage company , with the governments support forced these people , probably using all forms of torture , to sign mortgages they could never afford.

  4. #4
    JetsInsider.com Legend
    Join Date
    Dec 2005
    Location
    Jets Stadium Section 246
    Posts
    37,065
    I just want to see the video of the guy running out of a house carrying his big flat screen TV before turning his home into the Towering Inferno while screaming, "Oh my gawd, George Bush just bombed my house. I swear it!"

  5. #5
    Banned
    Join Date
    Mar 2005
    Location
    Long Island
    Posts
    13,518
    [QUOTE=Jetfan_Johnny;2432526]shouldn't the government pay these peoples mortgages for them?


    How does our government expect them to pay the mortgage they signed for?

    Everybody knows the mortgage company , with the governments support forced these people , probably using all forms of torture , to sign mortgages they could never afford.[/QUOTE]

    I agree with your sentiment here. People bought homes way out of their price range. I can understand how many people brought this upon themselves.....they're morons.

    At the same time I'd love to know what the f*ck the banks were thinking. They had to know that the huge amounts of money they were lending out couldn't possibly be paid back.

  6. #6
    Board Moderator
    Jets Insider VIP
    Charter JI Member

    Join Date
    May 1999
    Location
    State Location Here
    Posts
    8,533
    It's even worse than idiots buying more homes than they could afford, or predatory lenders. Many of the people getting bailed out are speculators who were just looking to flip. F- them...it's ridiculous to help them out.

  7. #7
    Jets Insider VIP
    Join Date
    Feb 2006
    Location
    Van down by the river
    Posts
    23,182
    [QUOTE=shakin318;2432665]Many of the people getting bailed out are speculators who were just looking to flip. F- them...it's ridiculous to help them out.[/QUOTE]


    Bingo.

    House flippers are the lowest scum of the earth. They are the ambulance chasers of real estate.

  8. #8
    [QUOTE=PlumberKhan;2432704]Bingo.

    [B]House flippers are the lowest scum of the earth[/B]. They are the ambulance chasers of real estate.[/QUOTE]


    Freakin capitolist pigs. :steamin:

    :confused:

  9. #9
    [QUOTE=sourceworx;2432594]I agree with your sentiment here. People bought homes way out of their price range. I can understand how many people brought this upon themselves.....they're morons.

    At the same time I'd love to know what the f*ck the banks were thinking. They had to know that the huge amounts of money they were lending out couldn't possibly be paid back.[/QUOTE]

    The banks were thinking that the whiny liberals will never let all these people end up on their ass and the government will bail them out.

  10. #10
    Hall Of Fame
    Join Date
    Jan 2006
    Location
    Not bababooey and I resent the implication
    Posts
    21,029
    brooklyn bound posted a good explanation of what happened, basically greed and stupidity all around.

    Most of the buyers and brokers were naive more then anything. They didn't think the prices of houses would ever fall. The thinking was "there's no more land being built" and people are going to need a place to live. Of course they were wrong, but there was no convincing them. believe me, I tried..

    The real scum was the investment bankers who knowingly packaged this stuff as securities and sold it...

    Here's the explanation I mentioned earlier:

    [url]http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true&pli=1[/url]

  11. #11
    bandwagon
    Guest
    [QUOTE=Jetfan_Johnny;2433196]The banks were thinking that the whiny liberals will never let all these people end up on their ass and the government will bail them out.[/QUOTE]

    No, banks were thinking that there's no way big pocket conservatives would let them take the hit if the bottom fell out.

  12. #12
    [QUOTE=bandwagon;2433245]No, banks were thinking that there's no way big pocket conservatives would let them take the hit if the bottom fell out.[/QUOTE]

    Hell the bank held up there end of the deal it is these uneducated homeowners that signed a mortgage they couldnt pay.


    The government should let them all end up on the ****ing streets.

  13. #13
    JetsInsider.com Legend
    Join Date
    Dec 2005
    Location
    Jets Stadium Section 246
    Posts
    37,065
    [QUOTE=shakin318;2432665]It's even worse than idiots buying more homes than they could afford, or predatory lenders. Many of the people getting bailed out are speculators who were just looking to flip. F- them...it's ridiculous to help them out.[/QUOTE]

    Define the "bail out" they're getting.

  14. #14
    bandwagon
    Guest
    [QUOTE=Jetfan_Johnny;2433249]Hell the bank held up there end of the deal it is these uneducated homeowners that signed a mortgage they couldnt pay.


    The government should let them all end up on the ****ing streets.[/QUOTE]

    And how, exactly, did they hold up their end of the deal? They -consistently- made bad investments but big poppa Fed (that is, you, me, and every other taxpaying citizen) is bailing them (banks) out. (As they should, btw... but at least read up on the issue and get your story straight).

  15. #15
    P.J. O'Rourke and Barney Frank had a great conversation about this very topic last night on Bill Maher. They actually talked about things rationally and what led up to this and what may be able to help now.

  16. #16
    bandwagon
    Guest
    [QUOTE=cr726;2446591]P.J. O'Rourke and Barney Frank had a great conversation about this very topic last night on Bill Maher. They actually talked about things rationally and what led up to this and what may be able to help now.[/QUOTE]

    Yea, it's a tough issue because it's built on years of false group think ("real estate value always goes up") and hedging of bets. In the end, it ****s everyone, not just the joe who bought into the ownership society and paid too much for a house.

  17. #17
    Bewildered Beast
    Join Date
    Oct 2005
    Location
    SF via Strong Island
    Posts
    31,326
    [QUOTE=Jetfan_Johnny;2432526]shouldn't the government pay these peoples mortgages for them?


    How does our government expect them to pay the mortgage they signed for?

    Everybody knows the mortgage company , with the governments support forced these people , probably using all forms of torture , to sign mortgages they could never afford.[/QUOTE]

    It's that horrible practice of "fire-boarding".

    Torchering their house.

  18. #18
    Hall Of Fame
    Charter JI Member

    Join Date
    May 1999
    Location
    L.I. NY (where the Jets used to be from)
    Posts
    13,472
    [QUOTE=sourceworx;2432594]I agree with your sentiment here. People bought homes way out of their price range. I can understand how many people brought this upon themselves.....they're morons.

    At the same time I'd love to know what the f*ck the banks were thinking. They had to know that the huge amounts of money they were lending out couldn't possibly be paid back.[/QUOTE]

    If you've ever done business with banks you already understand that most people who become bankers are a half a step from being a government worker, not exactly independent thinkers.

  19. #19
    [QUOTE=Jetfan_Johnny;2433249]Hell the bank held up there end of the deal it is these uneducated homeowners that signed a mortgage they couldnt pay.


    The government should let them all end up on the ****ing streets.[/QUOTE]

    The deal I have with my mortage holder is they own my house if I can't pay the mortage. I agree let the banks live with the deal they made. If they packaged these mortages and sold them without doing their do deligence on the buyers in a fraudulant manner, besides owning and having to pay the real estate taxes on the houses, they should also go to jail.

  20. #20
    People are like the Govt they spend money they dont have. But unlike the Govt they cant raise taxes to cover it!

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Follow Us