Many people who bought 800,000 home would have loved to purchase a 300,000 home. The difference was price appreciation fueled by crazy mortgages that made the bubble possible!!! I purchased a home for my daughter south of San Diego in 2005 for $283,000 new construction. 18 months later I sold it for $525,000 in 2 weeks. I had to review 15 offers. The market was insane.
Wayne Landon
of IL
@
Mar 04, 2009 12:27:19 PM
deliqunecy
AS the housing sector was allowed to be demolished, jobs in every sector were lost. Lost jobs, lost income, delinqent debt.
Delinquent debt, foreclosures, lost profit, huge losses.
Why didn't this problem start being resolved 3 years ago?
People with years and years of excellent credit have lost jobs. Self-employed people in every industry have lost income. No wonder mortgages are going unpaid.
Nothing is worse than not being able to earn a living.
common1sense
of WA
@
Feb 26, 2009 23:48:09 PM
Are you saying
that some people with okay credit scores should have bought $300,000 houses instead of the $800,000 house?
Wayne Landon of IL @ Mar 04, 2009 12:27:19 PM
common1sense of WA @ Feb 26, 2009 23:48:09 PM
Muser of NM @ Feb 26, 2009 14:01:07 PM
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