Article

2009-05-06 Economy

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Posted by GolfBravoUSMC 2009-05-06 13:53|| || Front Page|| [4 views ] Top

#1 deptors prison

Posted by wake up 2009-05-06 14:13|| 2009-05-06 14:13|| Front Page Top

#2 May I suggest a good remedial English class (Usually available at local night schools so as to not interfere with your daytime burger-flipping job.)

Posted by Redneck Jim">Redneck Jim 2009-05-06 15:08|| 2009-05-06 15:08|| Front Page Top

#3 Chaulk and bail, folks. We can't afford the bailouts the government has given out already, so you'll have to float or sink on your own.

Posted by Richard of Oregon 2009-05-06 15:26|| 2009-05-06 15:26|| Front Page Top

#4 If you bought a house at a ridiculous price hoping to flip it and make a pile, then it sucks to be you.

I understand the price is what a buyer is willing to pay, but I suspect quite a few of the underwater homes are in that state simply because the housing bubble has popped and prices have crashed along with the economy. Here in Michigan, prices are down because everyone is moving out of state.

A house *is* still an asset. I would expect prices to come back once the economy recovers. Assuming, of course, the effect of Obamanomics is transient.

Note that the scary "more than 20% of American homeowners owe more on their mortgage debt than they can sell their homes for" means that nearly 80% do not.

Posted by SteveS 2009-05-06 16:19|| 2009-05-06 16:19|| Front Page Top

#5 Improving House Affordability is a good thing for the economy.

Posted by Bright Pebbles the pedantic 2009-05-06 19:21|| 2009-05-06 19:21|| Front Page Top

#6 I missed out on most of the gains by staying in my paid-for 1500 sq.ft. house, but I didn't want to overextend myself when I had other committments and a shaky job. Others chose to be more aggressive and took greater risks for greater rewards. But now I have to pay for their losses. I have to do it but I sure don't have to smile and be sympathetic in the process.

Posted by Glenmore">Glenmore 2009-05-06 19:55|| 2009-05-06 19:55|| Front Page Top

#7 Glenmore - Agreed!

Posted by 3dc 2009-05-06 20:26|| 2009-05-06 20:26|| Front Page Top

#8 Being underwater only matters if one is actively trying to sell the property in question. Granted, since the 1960s Americans have moved on average every six years, but I imagine just now those with jobs are sitting tight until things get better, rather than trying to sell.

Posted by trailing wife">trailing wife 2009-05-06 22:46|| 2009-05-06 22:46|| Front Page Top

#9 Sue for divorce. Tell the wify she can keep the house if I get the dog and pickup. LOL.

Posted by Skunky Glins 5***">Skunky Glins 5*** 2009-05-06 23:40|| 2009-05-06 23:40|| Front Page Top

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