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Originally Posted by Larry Gude  ...I have not one shred of evidence or bundle of 'facts'. All I have is my gut telling me that if someone bought a $300,000 house for their family, the kids, school, the neighborhood, like most people buy houses for, and they need to come up with an extra $500 a month, they'll find a way before they lose the damn house.
How many politicians you suppose, across the land, are stuck with property deals that aren't working out so well now that things have cooled? |
I'm sure that there are a lot of those, including the politico's. I'm also sure that there are alot of families out there living paycheck to paycheck and an extra $500.00 a month would break them completely. So, who's fault would that be? I would have to put my finger squarely on the family that took out more of a mortgage then they could really afford along with the knowledge that it could increase overtime due to the ARM.
I would like to see how your hypothesis pans out though, how many were actually speculators and investors. It just might be the majority.