This is what is so sad, lots of home purchasers still put down large amounts of their money to reduce bank loans... to see it all dissipate as the value of the house dropped.
We are done!!! 44.5 million on foodstamps, twice that many on welfare or social security, real unemployment at over 15%, 1/3 of America's children are fat and diabetic, and 1.5 million abortions anually. This is the end. I hope all you liberal democrats are happy. You have successfully ruined the greatest country in the world. Freedom has been flushed down the drain. I told my 9 and 11 year old sons today that they will soon have no country.
These assholes ruined perfectly good agricultural land into this garbage. Shame on them and I'm happy many of these fools that bought the top of the market now are getting buried.
John67elco, I just want to thank you sincerely for posting the best video ever! Please post more. My friends and I thoroughly enjoy it. Once again thank you very much!!!!!
why would anyone buy a house for 600k ever. if you take into account the jack in the box taco standard, that 2 tacos will always be 99 cents, it doesnt take an economist to know that anything over 250k is clearly inflated
It's instructive to go back and see this vid from three years past. It's only gotten worse and banks are collapsing due to RE loans. And we still have yet to see the fallout from commercial/retail RE blowing out. I don't think RE will be viable for another decade, at least. It may take that long to clear what's available now.....
JOSE ROMAN HERNANDEZ, HIS WIFE MARTHA HERNANDEZ THEY STOLE $100.000 HUNDRED THOUSANDS .INVESTMENT FRAUD , HE LIVES IN 908 N ARROWHEAD AVE RIALTO CA 92376. 909-920-8489, HE DID JAIL TIME ALMOST FOR YEAR, I HAVE HIS PICTURE. IF ANYONE IS INTERESTED ON SEE HIM, HE "WORKS"
Omega National Funding & Realty Inc
4401 Atlantic Avenue # 217
Long Beach, CA 90807-2218
Phone:(562) 984-580 HE DOESN'T HAVE A REAL ESTATE LICENSE TO DO ANY SALES, DON'T THRUST HIM OR HIS WIFE THESE THIEVES THANKS
JOSE ROMAN HERNANDEZ, HIS WIFE MARTHA HERNANDEZ THEY STOLE $100.000 HUNDRED THOUSANDS .INVESTMENT FRAUD , HE LIVES IN 908 N ARROWHEAD AVE RIALTO CA 92376. 909-920-8489, HE DID JAIL TIME ALMOST FOR YEAR, I HAVE HIS PICTURE. IF ANYONE IS INTERESTED ON SEE HIM, HE "WORKS"
Omega National Funding & Realty Inc
4401 Atlantic Avenue # 217
Long Beach, CA 90807-2218
Phone:(562) 984-580 HE DOESN'T HAVE A REAL ESTATE LICENSE TO DO ANY SALES, DON'T THRUST HIM OR HIS WIFE THESE THIEVES THANKS
These people convinced themselves that a swiming poo; was an investment, an investment is something that brings in cashflow, money put a side for future benefit. A fukin swiming pool is for you to have a good time, nothing to do with investment
no point in crying about it, there are no gurantees when you look at a house like an investment, hell im underwater too, oh well, thats how the cookie crumbles, should of never converted all that precious farmland to mcmansions in the first freakin place
At retirement I will be just fine. I'll go live in a tipee. See how warped things got. Hundreds of thousands of dollars for what... plywood, wiring, chip board, plastic. This was all planned. A bitch I used to work with made fun of me living in a double. We'll....she declared bankruptcy. HA. Folks, live low, live lean, stock up on food, have a good pantry, buy silver, join the NRA, get a gun and ammo. Crime will get bad fast!
The real tradgedy will be if the Federal government bails out this cesspool. At what point do Californians show any sense of self-preservation and kick out the illegals and the liberals from office?
@RobertMOdell oh please it has nothing to do with liberals or illegals we are stupid ourselves. We buy shit we can't afford, we need to stop blaming others and take some god damn responsibilities.
@Kaasko, What about them? All I say is if you don't want to get f...ed don't keep your legs wide open. The banks have been really kind they should press charge against those dead beat borrowers for destroying the banks' homes. I think the banks should garnish their wages.
@Kaasko, yeah the banks had to be bailed out because the stupid asshole buyers couldn't pay their jumbo and refinancing loans. Come to think of it, the state should raise the God Damn taxes to fucking 85% so the scum of the pond can't afford to buy anything. Two things I want to see: food inflation and tax hike and see if those assholes still want to buy houses.
@Kaasko, what about Madoff? He has nothing to do with stupid people living beyond their means. I'm very tired of people trying to blame everyone except themselves. People need to take some responsibility.
GOVERMENT and BANKING under the ADMIRALTY LAW and the UCC Juridiction :citizenship ,township ,etc...
Your House, etc... is a Vessal or a ship on the ocean or waters and or You Are !
if you dont pay your moorage - mortgage you may be come underwater-sinking,
youll need a bailout or an extened line of credit from a morage/mortgage company to avoid the flood of going down stream and hitting bankrupt...ultimatley sinking your credit line.
Saw some crazy stats on a house I use to live in at Tracy. Parents sold it for $125k in 1987, then it was sold again in 2004 for $397k at an estimated value of $399k then the estimated value peaked at $485k in 2006. Then it was sold again in 2009 for $115k. 10k less and 22 years later.
That is a wonderful story. Straight to hell for all these assholes that plowed over productive land to create this garbage. They can swim in their own shit now and watch this bust unfold in their lap.
Those people that paid over $500,000 that were interviewed don't look like they earn the income to rent a studio apartment. I guess these people we're ignorant and uneducated and didn't understand the fundamentals. It seems like there should be some type of laws to protect people who are really really stupid.
@featherriverrafter I thought the same thing. Probably put ZERO down too. And then add to the stupidity by going on the news to broadcoast to everyone what idiots they are. Reporter asked them 'you put all this money into this...'. Morons borrowing other people's money. This has turned out very well. late 2010 and 2011 will see more of the downturn. Enjoy the ride
Home overvaluation is deceptive act of speculation practiced by many ordinary Americans, yet many called it return on investment. The only thing to blame for the housing crisis is greed.
It's not sad. It was a scam and it had to crash. Finally people will realize that this whole real estate game was nothing but a scam and artificial price inflation. It had to happen.
@3089280288 I agree w/ you. We are replacing useful farmland w/ luxury homes that take up more space than not. Yet the world will soon face food and water shortages :( .
Bought a house in 1999 for $139,000. Sold it in 2006 for $469,000 and left California to buy a house in Oregon. We are buying a $500,000 house in Cali. for $300,000 this week since we just sold ours for what we paid for it. Life is good. The timeing was just right.
Be careful it's not over yet! we bought a house on the sand in Califorina in 1997and paid 465k and sold it for 1.7m in 2005. I bought gold and Google on opening day. If you want to play and gamble be prepaired to loose big. Advice NEVER BUY A TRACK HOME! After I sixvipled my Money. We live in a condo and are wondering what to do next! I enjoy sitting on the Cash and Gold! These people should just walk away they will be way better off in the long run.
I laughed when that lady said, " I feel like my parents grave has been robbed this was an inheritance." It's more like they are turning in their grave because of your greed and stupidity. You paid 585k and put a big downpayment that you will never see again. You wasted it trying to double down on the dough. hahahahaha
Guess what they're doing right now in central california, they're bidding up again. Most of buyers are offering above the asking price again. They never learn. These idiots are going to get burned this time, hard. 40% of prime will be under the water by 2011 and currently we have 30 million unemployed people in the US and there will be more to come. What will happen to those unemployed people's homes? Foreclose?
@moothacow, hahahahahah, I can't stop laughing at these stupid greedy assholes. I can't believe people are still buying and even offer above the asking price even at this market, what idiots.
California Real Estate has been on an eight year wave cycle. Eight years up from 82 to 90, Eight years down from 90 to 98 and Eight years up from 98 to 2006. I can bet money that eight years later in 2014 will be an excellent time to buy.
I put a cap and solar panels on my dodge ram, and pay a friend a bit of money to have an address, so I can maintain a good image to my employer. obama needs more warriors , that's why he's bleeding us dry.
maybe if they didn't build such shitty small homes they might actually sell. just a thought. quit skimping on quality you greedy faggot construction losers. quit hiring illegal aliens. you bring nothing to this country except your greed. fuck off
Truth...while I have NEVER missed a payment on any of my bills, I pay my rent on time, and I live on 88 cent Banquet dinners...i find it hard to empathize with these pretentious parasites.
I FEED off the suffering of these bastards, it SUSTAINS me while I suffer for doing it right, and paying my bills, and living well below my means.
Let this be a lesson for everyone: live BELOW your means, you don't have to impress your asshole neighbors. When they lose their house, you will be smiling!!!
You'll be a successful person in the future but the saddest part is you will be a host for these parasites. The $3trillion debt already has your name on it. I'm sorry to say this but these parasites will continue to ravage you, your children, grandchildren, and great, great grandchildren.
LOL, I learned that lesson before I took economics, LOL. Yes he was. The problem is when people get an increase in income their spending normally increases, needlessly! I got a nice little place and I am not moving until my income, savings, and investments vastly improve. I don't want to stay here but it is cheap enough. A base of ops as it were until I can strike!
"I feel my parents grave was robbed! This was an ineritance!!!" as you look in the background, you see a large swimming pool, with a fountain flowing into it, and likely a giant SUV she can't give away.
She is clearly medium income trying to appear as wealthy as possile. I have no sympathy.
I ride a damned motorcycle year-round, rain or shine, and I live well below my already modest means.
I am not a hermit, but there is something to be said for trimming the fat.
You are RIGHT. And WE have to pay the price of other STUPID people who "wanted to impress" the nieghbors! A good example: I complained recently for WHY my father in law is is nothing but a flake, BUT yet he gets to live in his apartment for $300. verses me who is GREAT people compared to this flake, and YET I have to pay the FULL price!
Your father, sadly to say, is one of the many parasites that suck the blood from this nation and bring her down to her knees. We should have a program to help those who work full-time but still can't make ends meet.
WHY these STUPID FUCKS buy SUVs too. They just want to look BIGGER and better then everybody else! And afraid of looking too "small" in a compact car. This goes with fancy houses instead of "humble" ones
I never understood why people would buy a heavy use/duty vehicle when most weren't doing anything with it that justified the purchase. Just to look cool? Fly, bad-ass, or whatever it is they say now. LOL dang I'm getting old. Only those who have the income to blow should even waste it on that junk.
Moniequa: I never worked in the fields. Other opportunities were presented to me. I respect those that do, as everyone who eats should. They do a job, most of us would not beable to do long, and most ARE Mexican, especially in CA.
I never stereotyped people as you did, and I never said "ALL mexicans," I said ALL Mexicans "I MET," that is not to say they don't exist, I am sure they do. I obviously never met ALL Mexicans.
I think its pretty easy. People's incomes now can't pay the monthly mortgage cause now its service industry. Why do they want to keep prices high on houses people can't afford to buy. I guess its so the neighbors houses won't depreciate as fast. What I'm saying is everybody is going to be living in multi million dollar houses soon but a loaf of bread will also cost $10. Basically I think we are going the way of the peso so our money will then be equivalent to the rest of South America. So sad.
How about those idiots who bought homes that they couldn't afford. What are we going to do with them? I think they got off easy. I wish food price go up even more.
Yeah, keep telling yourself that. Australia is looking for people with degrees in engineering and their economy is booming. Can you say; "G'day mate"?
Oh please stop! Most Latinos are not good workers, especially construction, most homes are built like a pile of shit. This is coming from a person who worked with them everyday.
The quality of a home ultimately rests with the builder and the City Builder Inspector. I know the quality was poor for homes built after 1990, because I owned several homes in California. Those built before 1990, had better quality. Once the builders hired inexperienced help, the quality went down. If you bought from a quality builder you got what you paid for. When I said they were "god" workers, I meant they worked hard. Of course there will be inexperienced workers, whose quality is poor.
I don't think you should generalize, not all latinos are hard workers. There are some but not all. You are right, quality depends on builders if they are good builders they build good homes. You can higher inexperience workers still get good results if those workers just follow the instructions correctly. How hard is to put a couple of nails in the wood, everything is pre fabricated. Peopl are lazy they just don't want to do a good job. Once again I speak from experience.
moniequa: I knew many Mexicans, and one only has to drive past the picking fields in CA to realize how hard these people work. I have never met a lazy Mexican.=, although I met many lazy "white" people. I am white, if you were wondering.
I am glad you added "some" to your description.
You must be hanging around "lazy" people and you know what they say, birds of a feather...
If "birds of a feather...." You should stop working in the fields and start going to school then you'll learn not to stereotype people. We have good and bad people in every race and to say that all mexicans are hard workers is stupid. I merely tried to educate you so you would not a fool of yourself infront of everybody. But if you don't want to listen then continue to make general statements and see how people'll react to you.
I'm in the building trade. We have been fabercating homes for about $70,000 that are sold for about $225,000 in S.E. Michigan. In essence, with finacing, the home is sold for $600,000/30 years. What has wallstreet been doing with all the profits? At a monthly payment of $2,000 the home mentioned is paid for in 35 MONTHS (2 years 11 months). the rest is intrest, finance charge, closing costs,,,,,,,
Don't be an idiot, rich people on wall street caused this. They were given trust through deregulation and they abused that trust. You paid the rich people for the bailout so now you pay your mortgage twice, perhaps 3 times.
Hopefully many of these consumers bought a house they play on living in as a long term investment.
As a reponse to lennyfest, I will probably buy this year. After living in crowded NYC for 7 years and LA for 2, I can't wait. I've saved cash, been patient, and look forward to getting in while the interest rates are good and selection is awesome.
Our company has bought around 30 REOs this year in the Southern California area to rehab and sell. Going very well.
hate all you politicians for keeping me trapped in hardship and making my dearest dreams and hopes unreachable by keeping rents and home prices too high for the slave wages you offer! screw you all! screw your war machine! I hope you misery makers sink into the ocean and get hurricaned shitless
Hmm...did they stop to consider whether they could actually afford a $600K house? Of course not--they only saw an upside, and now that their "inheritance" is gone, they bawl out their eyes to the media. Tough, that's how you learn financial responsibility. No bailout for these babies!
Of what were these people thinking? What would make people think they could afford to buy $600K home? I cannot blame it all on the banks. Pure greed and stupidity. Anyone willing to listen just a little knew this was going to crash and burn years ago.
Most people actually don't understand economics. American culture is one that teaches people to live at a maximum. If you can't afford it now, they teach us to borrow and pay back later. All the while - finance companies and mortgage brokers are enslaving millions of Americans for a lifetime. We (as a nation and culture) must learn that bigger is not always better.
I sincerely hope that house values DON'T go back up like they have in the past. People need to realize that a house is NOT a luxury, it's a must have for all. Nobody needs these sickeningly huge estate-homes. It's time we start helping those who weren't born with a silver touthpick in their teeth. Let's ALL start looking into tiny homes. More economical to maintain, easier to keep clean, and more eco-friendly. F**k the McMansions.
My friend - house values haven't dropped that much. Mostly the statement "Houses are so cheap now, anyone should be able to afford one", is just a corporate hype statement. In this nation, when we waste BILLIONS on the NASA fraud - no one should be without a home. I do however think that we need to, (as a nation) re-evaluate what we standardize as normal housing.
Well it seemed like an interesting idea to let crooks run the country. Perhaps greedy people need a better way of venting themselves than screwing there fellow Citizens to the wall.
Why is she crying!!!! Is she in default. If not just live in the house. She said its an inheritance, so why sell it and why cry. The price will eventually rise. What the fuck is wrong with people who live in good houses but have a fucking heart attack because they here its value dropped. Who gives a shit. Did you buy it to sell it like a used car dealer or did you buy it to live in it. So live in all ready.
EXACTLY! EXACTLY! People make it a business theses days when they shop for a house. They want to sell it for the same , if not more of the houses value after they have lived in it. This is greed, human greed. Instead of living in the house they are worried they wont be able to get the MONEY they spent on it. Money > Good Living for them...fucken morons
we can't blame the government for everything...lets tart blammin the public as well... idiots buy a house in 2001 for around 165,000 ... take it to a realtor who says they can sell it for 600,000 and the seller is happy he can make 300%+ profit... no one questions the seller on WHAT RIGHT U HAVE TO SELL IT AT THAT PRICE...HAVE U MADE THE HOUSE INTO GOLD?
Very true. But who would buy a 600K house that was 165K 3 years ago? Well guess what, anyone who could get approved for the loan. Why? Because damn there every house regardless of the neighborhood, age, or size, went through the roof. Buyers were forced to get the 600K because no one would sell for less. Then believing that 600K house the buyer was force to buy would continue to rise, it won't be so bad. But too bad for that 600K busted.
thats what a stupid growing economy does, it hyper-inflates homes so that the new generations cant buy one, the goal here is mass misery and homelessness, thats what politicians want! if politicians wanted freedom they woulodnt have stolen the land from Americans and called it freedom! if they really were for freedom you would have tax free land. natives are the only ones who will never be homeless! Americans are the ones that would fall into disgrace and slavery with economic growth.
A people without land is an owned one , politicians want to control and enslave citizens on every societal level politicians wont allow their folks prosperity and liberty. Just look at land taxes the housing inflation explosion of 2003 and minimum wage in comparison, the blueprint for homelessness and enslavement is all over it.
only a dumbed down american public could purchase stuff that is not *really* worth what they paid for it. I've worked in Construction for a few years and the costs of what these people are really paying for is a joke. These people would be better off learning how to hammer than making money through some scheme or another.
I was leaning towards Obama until now! I just read the Washington Post. Obama got a sweet heart deal when he purchased his mansion. No Points, no origination fee, and a lower interest rate. Why? Because senators monitor and regulate the lending industry. he basically was paid off to look the other way and NOW our home values are dropping and foreclosures litter the landscape. Obama and Dodd, YOU ARE scum for taking this legalized pay off! You have cost us A LOT of EQUITY and MONEY!
I keep doing it until I calm down and cool off. It has REALLY PISSED ME OFF. They were supposed to be watching the chicken coup but they looked the other way because of favors from the lending institutions. Now WE will all PAY dearly for it. They have put investment banks on life support and fixing to place Freddie mae and Freddie Mac on life support. Home PRICES will continue to plummet. And THEY let it happen. What AM I SUPPOSE to say? Thanks CONGRESS!!!!!!!
I'm surprised that American realtors and home owners nationwide haven't started a national protest movement to burn all the bank-owned foreclosure properties....
1)
it would drastically improve the housing market and
2)
they would actually get something for their tax money being confiscated by Congress to pay off the distressed banks who hold the titles. How many house titles has the Fed (they caused the bubble with too low interest rates)received from distressed banks as collateral?
YEAH! Now the people who can AFFORD their homes, have good credit and a sizable down payment, as well as strong income can get into a house!!! We've been waiting!
youre funny as fuck,they paid too much?, so they were supposed to live in a tent or tepee while the inflation was creeping upwards and pray for it to go down while they live no where, according to you? THATS WHAT THEY WERE WORTH THEN! so that stupid "they shouldnt have paid that much" line is so retarded.
politicians are trying to legalize human slave auctioning and murder by increasing the costs of living and keeping minimum wage low where middle class citizens and below become poor, restrained, and starving, Americans would
become sacrificial slaves like the Aztecs! this is what politicians want, and thats why a president and his economists (who are probably Freemasons) are the ones who call walstreet
to hike societal prices and create more poverty and misery.
Minimum wage doesn't have much to do with it other than for things like some unions that base their wage partly on the minimum wage. Anyone with combed hair and who shows up on time can make more than minimum wage.
bush's economists and a few geopolitical mystery boy societal miserators from the white house are the ones who call wallstreet and command price hikes on gas housing and food whenever they can. fuckin misery makers.
The housing bubble is/was a land speculation bubble because only land value appreciates not the value of improvements. All our tax laws and monetary policies have been designed to promote real estate/home ownership but the effect has been to give incentive to speculate. Those people who buy homes as investment first and use second were enticed to do so by bad public policy and it has driven up the cost of housing for everyone. We are just pimping our Mother Earth and think it smart to do so.
speculation, thats such bullshit! a bullshit excuse to hide the fact that presidents and their economists are the ones actually responsible for lowering and rising societal costs, nice try taking blame off the responsible miserators through
POLITICIANS are the crib of the economic engine and are responsible for all rises in inflation all reforms and vetos and revolts and societal poverty! presidents are the ones responsible negating property rights through legalised extortion such as rising taxes rising home costs (when wallstreet can) all forms of cost inflation and rising costs is politicaly engineered! dont be swayed by lies
and bullshit on CNN trying to render innocent politics from the societal collapsing effects it creates
these cockroaches blame poeple for buying an expensive house in the hopes you forget
that theyre the ones who fucking engineered housing inflation to rise! because the poeple who blame would prefer you live in a fucking teppee or in the street these poeple support homelessness theyre fucking poverty supporting nomads!
american politics wont even allow american peOple the freedom to own tax free land, so that they can send citizens to the gutter through inflation and tax rise! the only free poeple are the ones who dont pay property tax! yes natives! they have all the services and no tax! WHILE WE GET ENSLAVED INTO POVERTY HOMELESSNESS AND DISGRACE! NO SUCH THING AS APPARTMENT BUILDINGS ON NATIVE RESERVES! THATS TRUE FREEDOM! NOT THAT FAKE SHIT DEMOCRACY THEY FILL YOUR ASS WITH on tv
its only a tragedy when theres no more equity. Who in there right fucking mind would pay 600k for a tract home in the middle of the ca desert? they thought they'd make money and are screwed now.greed is a SOB.600K zero down, on a neg am iam sure. fkin idiots
theyre bullshit! real freedom is the freedom to own tax free land. if you pay the same old extortion taxes on land, you dont own it , stop paying those taxes to the gov mafia and the lands gone, we still kinda live in the days of kings and queens where we commoners have to give money to the king! fuck this extortion, fuck presidents kings and queens were not fucking bees, were human beings and we have the right to own tax free land! OUR LAND.
I think it's funny when I read articles saying that vultures are buying condo's in Florida, and that means where at the bottom of the market. Here's the truth: When you are at the bottom of the market there are no buyers...that's why it's the bottom. We have a long way to go. I live near Boston, and have been through this before (40% reduction in values from 1988 to 1994). Did you vote for George Bush? If so, you voted for this mess. Forget Iraq, he's the worst economic president in history.
Sacramento is a gang infested welfare sewer. A true product of liberalism run amuk.
caljackr 3 months ago
Who wants to live in Sacramento?
jvolstad 6 months ago
Comment removed
sha370z 6 months ago
he said she payed $585,000 $597,000 where they get the money they took out a loans you mean DEBT
sha370z 6 months ago
@sha370z
She might have put 200 000$ of her own cash down,
it means she lost it all within a year or two...
This is what is so sad, lots of home purchasers still put down large amounts of their money to reduce bank loans... to see it all dissipate as the value of the house dropped.
Castorios 6 months ago
Supply without demand. Demand without supply.
- Why are you building homes?
- Because we want to sell them.
- But what if there is no need for new homes?
- Uh ... er ... we didn't thought about that one ...
MlTher 6 months ago
We are done!!! 44.5 million on foodstamps, twice that many on welfare or social security, real unemployment at over 15%, 1/3 of America's children are fat and diabetic, and 1.5 million abortions anually. This is the end. I hope all you liberal democrats are happy. You have successfully ruined the greatest country in the world. Freedom has been flushed down the drain. I told my 9 and 11 year old sons today that they will soon have no country.
09geauxtigers 7 months ago
These assholes ruined perfectly good agricultural land into this garbage. Shame on them and I'm happy many of these fools that bought the top of the market now are getting buried.
EconCat88 10 months ago 2
DON'T WANT TO BE AN AMERICAN IDIOT,
OPPS TOO LATE.
Geo408 11 months ago
How can these two looser can walk out of a branch with half a million dollar This is craZY
vince8520 11 months ago
Swimming pools. What a waste of money and energy.
jvolstad 1 year ago
DunNoMore Homes
mozaks80 1 year ago
John67elco, I just want to thank you sincerely for posting the best video ever! Please post more. My friends and I thoroughly enjoy it. Once again thank you very much!!!!!
moniequa 1 year ago
why would anyone buy a house for 600k ever. if you take into account the jack in the box taco standard, that 2 tacos will always be 99 cents, it doesnt take an economist to know that anything over 250k is clearly inflated
JustinKennith 1 year ago
Many people learned from this stupidity, don't buy a house if you can't afford.
109mytiger 1 year ago
It's instructive to go back and see this vid from three years past. It's only gotten worse and banks are collapsing due to RE loans. And we still have yet to see the fallout from commercial/retail RE blowing out. I don't think RE will be viable for another decade, at least. It may take that long to clear what's available now.....
ripperduck 1 year ago
waste!
gorideaquad 1 year ago
This has been flagged as spam show
JOSE ROMAN HERNANDEZ, HIS WIFE MARTHA HERNANDEZ THEY STOLE $100.000 HUNDRED THOUSANDS .INVESTMENT FRAUD , HE LIVES IN 908 N ARROWHEAD AVE RIALTO CA 92376. 909-920-8489, HE DID JAIL TIME ALMOST FOR YEAR, I HAVE HIS PICTURE. IF ANYONE IS INTERESTED ON SEE HIM, HE "WORKS"
Omega National Funding & Realty Inc
4401 Atlantic Avenue # 217
Long Beach, CA 90807-2218
Phone:(562) 984-580 HE DOESN'T HAVE A REAL ESTATE LICENSE TO DO ANY SALES, DON'T THRUST HIM OR HIS WIFE THESE THIEVES THANKS
laninamia 1 year ago
This has been flagged as spam show
JOSE ROMAN HERNANDEZ, HIS WIFE MARTHA HERNANDEZ THEY STOLE $100.000 HUNDRED THOUSANDS .INVESTMENT FRAUD , HE LIVES IN 908 N ARROWHEAD AVE RIALTO CA 92376. 909-920-8489, HE DID JAIL TIME ALMOST FOR YEAR, I HAVE HIS PICTURE. IF ANYONE IS INTERESTED ON SEE HIM, HE "WORKS"
Omega National Funding & Realty Inc
4401 Atlantic Avenue # 217
Long Beach, CA 90807-2218
Phone:(562) 984-580 HE DOESN'T HAVE A REAL ESTATE LICENSE TO DO ANY SALES, DON'T THRUST HIM OR HIS WIFE THESE THIEVES THANKS
laninamia 1 year ago
These people convinced themselves that a swiming poo; was an investment, an investment is something that brings in cashflow, money put a side for future benefit. A fukin swiming pool is for you to have a good time, nothing to do with investment
vince8520 1 year ago
no point in crying about it, there are no gurantees when you look at a house like an investment, hell im underwater too, oh well, thats how the cookie crumbles, should of never converted all that precious farmland to mcmansions in the first freakin place
duanescot 1 year ago
At retirement I will be just fine. I'll go live in a tipee. See how warped things got. Hundreds of thousands of dollars for what... plywood, wiring, chip board, plastic. This was all planned. A bitch I used to work with made fun of me living in a double. We'll....she declared bankruptcy. HA. Folks, live low, live lean, stock up on food, have a good pantry, buy silver, join the NRA, get a gun and ammo. Crime will get bad fast!
MrGreatLakesBuffalo 1 year ago 4
This has been flagged as spam show
yudi4160082 1 year ago
You paid $600k for a tract home? HAHAHAHAHAHAHAHAHAHAHA!!! Fuckin' tards!
papatoony 1 year ago 4
Find some homes at
forecloseddealz.cogia.net
prkoqui 1 year ago
where your food goin to come from????????????
obama got to go
blackberrypimp89 1 year ago
The real tradgedy will be if the Federal government bails out this cesspool. At what point do Californians show any sense of self-preservation and kick out the illegals and the liberals from office?
RobertMOdell 1 year ago
@RobertMOdell oh please it has nothing to do with liberals or illegals we are stupid ourselves. We buy shit we can't afford, we need to stop blaming others and take some god damn responsibilities.
moniequa 1 year ago 2
@moniequa That's right. Take some respsonsibility and kick out th illegals, and kick out the liberals from office, including your liberal governor.
RobertMOdell 1 year ago
@RobertMOdell, illegals and our crazy governor have nothing to do with our stupidity.
moniequa 1 year ago
@moniequa What about fonny crook fany mac, the bigest ckooked in the market, what about bernar madoff?
Is not only the regular ppl fault, the white collar tiefs, are acontable too
Kaasko 1 year ago
@Kaasko, What about them? All I say is if you don't want to get f...ed don't keep your legs wide open. The banks have been really kind they should press charge against those dead beat borrowers for destroying the banks' homes. I think the banks should garnish their wages.
moniequa 1 year ago
@moniequa Whay about them?
do you know the gov. had give them trillons in recompense?
about destroying the bank' "homes", yea, one mistake don't correct another.
shalom
Kaasko 1 year ago
@Kaasko, yeah the banks had to be bailed out because the stupid asshole buyers couldn't pay their jumbo and refinancing loans. Come to think of it, the state should raise the God Damn taxes to fucking 85% so the scum of the pond can't afford to buy anything. Two things I want to see: food inflation and tax hike and see if those assholes still want to buy houses.
moniequa 1 year ago
@moniequa pliz just make ONE coment about
bernad madoff and CEC the bureau to let him fooll a lot a ppll., in one sense u might be right
greed is rampant every where
shalom
fmlm
mesianic front of world liberation
Kaasko 1 year ago
@Kaasko, what about Madoff? He has nothing to do with stupid people living beyond their means. I'm very tired of people trying to blame everyone except themselves. People need to take some responsibility.
moniequa 1 year ago
@moniequa agree with you, but do you realy think, they are the only ones to reproach?
Kaasko 1 year ago
Illegal aliens swarming California is finally coming full circle. I fucking love this.
darthspeaks 1 year ago
I love how the Financial Planner sheds tears of grief for his poor clients.
monkeyman1140 1 year ago
American greed. Suck it up
venelind 1 year ago
GOVERMENT and BANKING under the ADMIRALTY LAW and the UCC Juridiction :citizenship ,township ,etc...
Your House, etc... is a Vessal or a ship on the ocean or waters and or You Are !
if you dont pay your moorage - mortgage you may be come underwater-sinking,
youll need a bailout or an extened line of credit from a morage/mortgage company to avoid the flood of going down stream and hitting bankrupt...ultimatley sinking your credit line.
canadastreetmedia 1 year ago
Saw some crazy stats on a house I use to live in at Tracy. Parents sold it for $125k in 1987, then it was sold again in 2004 for $397k at an estimated value of $399k then the estimated value peaked at $485k in 2006. Then it was sold again in 2009 for $115k. 10k less and 22 years later.
Mikejesmike 1 year ago
@Mikejesmike forgot to say the estimated value at the sale was $204k and now the value is $160k
Mikejesmike 1 year ago
@Mikejesmike
That is a wonderful story. Straight to hell for all these assholes that plowed over productive land to create this garbage. They can swim in their own shit now and watch this bust unfold in their lap.
EconCat88 10 months ago 3
Those people that paid over $500,000 that were interviewed don't look like they earn the income to rent a studio apartment. I guess these people we're ignorant and uneducated and didn't understand the fundamentals. It seems like there should be some type of laws to protect people who are really really stupid.
featherriverrafter 1 year ago
@featherriverrafter I thought the same thing. Probably put ZERO down too. And then add to the stupidity by going on the news to broadcoast to everyone what idiots they are. Reporter asked them 'you put all this money into this...'. Morons borrowing other people's money. This has turned out very well. late 2010 and 2011 will see more of the downturn. Enjoy the ride
GoldSilverLead 1 year ago
Home overvaluation is deceptive act of speculation practiced by many ordinary Americans, yet many called it return on investment. The only thing to blame for the housing crisis is greed.
kmarinas86 1 year ago
HAHAHAH! That's what these assholes get for destroying that beautiful landscape with their ugly faces.
savemyplaylist 2 years ago
Home values are still crashing ... it's sad
calpaw 2 years ago
It's not sad. It was a scam and it had to crash. Finally people will realize that this whole real estate game was nothing but a scam and artificial price inflation. It had to happen.
alyr315 1 year ago 4
Waist of farmland.
3089280288 2 years ago 15
If i was fortunate enough to live in California and have a bit of land.. i'd grow my own food instead of having a lawn.. maybe some chickens too
danmarino1970 2 years ago
Can't grow anything here in the Petro-chemical capital of the world (jersey)
danmarino1970 2 years ago
@3089280288 I agree w/ you. We are replacing useful farmland w/ luxury homes that take up more space than not. Yet the world will soon face food and water shortages :( .
unytcommsys 1 year ago
@3089280288 ... I see many lots where I love which could supply decent homes. LOL of course nobody wants to move into those areas LOL ;) .
unytcommsys 1 year ago
I just paid 130,000 for a very nice house and 2x the land in Texas. California has always been a shithole.
tnbitfigures 2 years ago
that happened alot here in ca poor folks trying to live rich,asked for it all! that pool costed more than my first house.
ttomray123 2 years ago
Bought a house in 1999 for $139,000. Sold it in 2006 for $469,000 and left California to buy a house in Oregon. We are buying a $500,000 house in Cali. for $300,000 this week since we just sold ours for what we paid for it. Life is good. The timeing was just right.
7514328 2 years ago
Be careful it's not over yet! we bought a house on the sand in Califorina in 1997and paid 465k and sold it for 1.7m in 2005. I bought gold and Google on opening day. If you want to play and gamble be prepaired to loose big. Advice NEVER BUY A TRACK HOME! After I sixvipled my Money. We live in a condo and are wondering what to do next! I enjoy sitting on the Cash and Gold! These people should just walk away they will be way better off in the long run.
nikkowinter 2 years ago 3
@nikkowinter, google on opening day thats a good move where the mkt goes from here thats the question i guess..
sunset99999 1 year ago
I laughed when that lady said, " I feel like my parents grave has been robbed this was an inheritance." It's more like they are turning in their grave because of your greed and stupidity. You paid 585k and put a big downpayment that you will never see again. You wasted it trying to double down on the dough. hahahahaha
moothacow 2 years ago 4
Guess what they're doing right now in central california, they're bidding up again. Most of buyers are offering above the asking price again. They never learn. These idiots are going to get burned this time, hard. 40% of prime will be under the water by 2011 and currently we have 30 million unemployed people in the US and there will be more to come. What will happen to those unemployed people's homes? Foreclose?
moniequa 2 years ago
I can't believe these idiots paid $597k for a house in central valley. You deserve what you get. Greed will watch you bleed.
moothacow 2 years ago 3
They sure did. W/ big smiles
Built so many over priced boxes, I knew it couldn't last. LOL at all the qrtr or half built tracts and the suckers that live in them
So much for those days. Off on to a new career path
noqrtrracing 2 years ago 2
@moothacow, hahahahahah, I can't stop laughing at these stupid greedy assholes. I can't believe people are still buying and even offer above the asking price even at this market, what idiots.
moniequa 1 year ago
auctions do not tell you what the bottom is.....just to let you all know.
jandean61 2 years ago
California Real Estate has been on an eight year wave cycle. Eight years up from 82 to 90, Eight years down from 90 to 98 and Eight years up from 98 to 2006. I can bet money that eight years later in 2014 will be an excellent time to buy.
MrAlanKendall 2 years ago 4
If the employment does not return, who will buy htem?
3089280288 2 years ago
I put a cap and solar panels on my dodge ram, and pay a friend a bit of money to have an address, so I can maintain a good image to my employer. obama needs more warriors , that's why he's bleeding us dry.
fedtheend 2 years ago
maybe if they didn't build such shitty small homes they might actually sell. just a thought. quit skimping on quality you greedy faggot construction losers. quit hiring illegal aliens. you bring nothing to this country except your greed. fuck off
ne0nsurf 2 years ago 2
First world consumer slaves have never impressed me.
halfasheep 2 years ago
Good thing the slaves are finding out...
7boon 2 years ago 2
"Whaaaa!!! Whaaaa!!! I bought my house as an investment!!! Whaaaa!!!"
Fuck you, dumbass. You signed the paper, so pay your mortgage.
Likely the same idiots who take out the equity in their homes to buy big screens, SUVs, and Starbucks.
Suck it up, bitches.
SpeedingStudent 3 years ago 2
Yeah, why in the hell did she buy a home that she couldn't afford? She is such a parasite.
moniequa 2 years ago 3
Truth...while I have NEVER missed a payment on any of my bills, I pay my rent on time, and I live on 88 cent Banquet dinners...i find it hard to empathize with these pretentious parasites.
I FEED off the suffering of these bastards, it SUSTAINS me while I suffer for doing it right, and paying my bills, and living well below my means.
Let this be a lesson for everyone: live BELOW your means, you don't have to impress your asshole neighbors. When they lose their house, you will be smiling!!!
SpeedingStudent 2 years ago 2
You'll be a successful person in the future but the saddest part is you will be a host for these parasites. The $3trillion debt already has your name on it. I'm sorry to say this but these parasites will continue to ravage you, your children, grandchildren, and great, great grandchildren.
moniequa 2 years ago 11
I just have to get to and through grad school. Best part: I won't be having children, the world is overpopulated enough.
The best advice anyone ever gave me was from my Economics professor: "Live far below your means!"
He was right.
I might move to Canada before the US implodes. Who know's?
SpeedingStudent 2 years ago
LOL, I learned that lesson before I took economics, LOL. Yes he was. The problem is when people get an increase in income their spending normally increases, needlessly! I got a nice little place and I am not moving until my income, savings, and investments vastly improve. I don't want to stay here but it is cheap enough. A base of ops as it were until I can strike!
unytcommsys 2 years ago
This is also truth.
"I feel my parents grave was robbed! This was an ineritance!!!" as you look in the background, you see a large swimming pool, with a fountain flowing into it, and likely a giant SUV she can't give away.
She is clearly medium income trying to appear as wealthy as possile. I have no sympathy.
I ride a damned motorcycle year-round, rain or shine, and I live well below my already modest means.
I am not a hermit, but there is something to be said for trimming the fat.
SpeedingStudent 2 years ago 3
You are RIGHT. And WE have to pay the price of other STUPID people who "wanted to impress" the nieghbors! A good example: I complained recently for WHY my father in law is is nothing but a flake, BUT yet he gets to live in his apartment for $300. verses me who is GREAT people compared to this flake, and YET I have to pay the FULL price!
fueledbymusic3 2 years ago 2
Your father, sadly to say, is one of the many parasites that suck the blood from this nation and bring her down to her knees. We should have a program to help those who work full-time but still can't make ends meet.
moniequa 2 years ago 2
@moniequa but, but, but, but, THE POOOOORRRRRRR!!! poor unmotivated haven't does a real days work all their lives, not one more dime!
duanescot 1 year ago
WHY these STUPID FUCKS buy SUVs too. They just want to look BIGGER and better then everybody else! And afraid of looking too "small" in a compact car. This goes with fancy houses instead of "humble" ones
fueledbymusic3 2 years ago 2
The man is correct.
Now Hummer is going bankrupt! It's so damned poetic! lol
SpeedingStudent 2 years ago 2
I never understood why people would buy a heavy use/duty vehicle when most weren't doing anything with it that justified the purchase. Just to look cool? Fly, bad-ass, or whatever it is they say now. LOL dang I'm getting old. Only those who have the income to blow should even waste it on that junk.
unytcommsys 2 years ago
Yea... we all need Fascists to tell us what to drive, what to eat, when to fart and who to marry. No thanks, pal. You first, I want my freedom.
Tell Al Gore to live in a cave along with Barbara Steisand before you force that B.ravo S.erria on me.
mykol13v 2 years ago 3
Maybe so, but fanatical jesus-head protestants did it in collaboration with the jews.
monkeyman1140 3 years ago
Don't worry there are more stupid people who still want to buy. Some are still offering than asking price.
moniequa 3 years ago
Moniequa: I never worked in the fields. Other opportunities were presented to me. I respect those that do, as everyone who eats should. They do a job, most of us would not beable to do long, and most ARE Mexican, especially in CA.
I never stereotyped people as you did, and I never said "ALL mexicans," I said ALL Mexicans "I MET," that is not to say they don't exist, I am sure they do. I obviously never met ALL Mexicans.
Now who is making a fool of themselve?
gjsterp 3 years ago
fueled by greed
suffer the consequence
emforty2 3 years ago
You said it brother!
moniequa 3 years ago
I think its pretty easy. People's incomes now can't pay the monthly mortgage cause now its service industry. Why do they want to keep prices high on houses people can't afford to buy. I guess its so the neighbors houses won't depreciate as fast. What I'm saying is everybody is going to be living in multi million dollar houses soon but a loaf of bread will also cost $10. Basically I think we are going the way of the peso so our money will then be equivalent to the rest of South America. So sad.
ferkco 3 years ago
The Jewish bankers who caused this need to be held accountable:
Lloyd Blankfein: Chairman & CEO (Goldman Sachs)
Martin Feldstein: Director (AIG)
Alan Fishman: CEO (WaMu)
Richard S. Fuld, Jr CEO (Lehman)
Stephen Roach: Managing Director & Economist (Morgan Stanley)
James E. Cayne: Former CEO (Bear Stearns)
Alan Schwartz: CEO (Bear Stearns)
Alan Greenspan Former Chairman, Federal Reserve
Ben Bernanke Chairman, Federal Reserve
atencopic 3 years ago 3
How about those idiots who bought homes that they couldn't afford. What are we going to do with them? I think they got off easy. I wish food price go up even more.
moniequa 3 years ago
I predicted this some time ago
Google
home ownership & rational regulation
& follow the America Debates forum link
GenXFuturist101 3 years ago
the economy will crash and never recover. Best deal is to escape to another country
bluejay02920 3 years ago
In a world financial collapse, where are you going to go?
flatsignedbooks 3 years ago
Yeah, keep telling yourself that. Australia is looking for people with degrees in engineering and their economy is booming. Can you say; "G'day mate"?
JetMech72 3 years ago
The builders won big time in California for the last 8 years and so did the real estate people, as did the State.
They already made their money, and were delivering for the most part defective housing, using cheap labor - mexicans.
I saw the crews working on there house. One white guy to 5 latinos.
I doubt they were paying the latinos the same wages as the white guy.
Besides the latinos for the most part are very hard and reliable workers.
This is coming from a white guy.
gjsterp 3 years ago
Oh please stop! Most Latinos are not good workers, especially construction, most homes are built like a pile of shit. This is coming from a person who worked with them everyday.
moniequa 3 years ago
The quality of a home ultimately rests with the builder and the City Builder Inspector. I know the quality was poor for homes built after 1990, because I owned several homes in California. Those built before 1990, had better quality. Once the builders hired inexperienced help, the quality went down. If you bought from a quality builder you got what you paid for. When I said they were "god" workers, I meant they worked hard. Of course there will be inexperienced workers, whose quality is poor.
gjsterp 3 years ago
I don't think you should generalize, not all latinos are hard workers. There are some but not all. You are right, quality depends on builders if they are good builders they build good homes. You can higher inexperience workers still get good results if those workers just follow the instructions correctly. How hard is to put a couple of nails in the wood, everything is pre fabricated. Peopl are lazy they just don't want to do a good job. Once again I speak from experience.
moniequa 3 years ago
moniequa: I knew many Mexicans, and one only has to drive past the picking fields in CA to realize how hard these people work. I have never met a lazy Mexican.=, although I met many lazy "white" people. I am white, if you were wondering.
I am glad you added "some" to your description.
You must be hanging around "lazy" people and you know what they say, birds of a feather...
gjsterp 3 years ago
If "birds of a feather...." You should stop working in the fields and start going to school then you'll learn not to stereotype people. We have good and bad people in every race and to say that all mexicans are hard workers is stupid. I merely tried to educate you so you would not a fool of yourself infront of everybody. But if you don't want to listen then continue to make general statements and see how people'll react to you.
moniequa 3 years ago
Latinos build as well as the "hefe" says they should. Las vegas hotels are built by mexicans, and the hotel rooms are stunning.
You tell a mexican to build a crappy place in a short period of time, he does exactly what you say.
Blame the white supervisor.
monkeyman1140 3 years ago
So who do you blame for crappy homes and commercial buildingsin Mexico?
moniequa 3 years ago
People are stupid and don't know how to manage their finances. As long as you never spend more than 25% of your income on housing you will be fine.
I am an accounting major and I know college graduates and graduate students who know nothing about basic personal finance.
Rockynurse 3 years ago
Your'e telling me man! Most of the people in my age group are oblivious zombies...
SpeedingStudent 2 years ago
I'm in the building trade. We have been fabercating homes for about $70,000 that are sold for about $225,000 in S.E. Michigan. In essence, with finacing, the home is sold for $600,000/30 years. What has wallstreet been doing with all the profits? At a monthly payment of $2,000 the home mentioned is paid for in 35 MONTHS (2 years 11 months). the rest is intrest, finance charge, closing costs,,,,,,,
Ron Paul '08!!!!!!!
crashoppe 3 years ago 3
Of course the builders made a killing, as did California from the excessive property taxes collected.
I left california 3 years ago, knowing this would happen.
I just didn't know it would be thias bad.
$300K is stilll too much for a home, especially with wages so low.
I'll move back to california when houses are at about $50K.
gjsterp 3 years ago
the builders dont win.
crashoppe 3 years ago
Not true. The builders have been winning in California the most, since the housing boom, which began in about 2001.
If they bought their land cheap as they were building the prices were going up.
Once when I was pricing the price went up $11K in a week. So they made out. Yes, they are losing now.
That is the chance they take.
They were also buiding home to sub standards and using inexperienced labor, which added to the problem or defects.
Keep in mind as these prices went up, labor costs did not
gjsterp 3 years ago
suckers....
matelotgeek 3 years ago
Barney Frank and Clinton caused this housing disaster with deregulation. Liberal idea's don't work. NO OBAMA = NO MORE MESSES
mrrice69 3 years ago
Don't be an idiot, rich people on wall street caused this. They were given trust through deregulation and they abused that trust. You paid the rich people for the bailout so now you pay your mortgage twice, perhaps 3 times.
Enjoy your homelessness!
monkeyman1140 3 years ago
Fools being departed with their money. Nothing better! Bankrupt the stupid.
fuzzywzhe 3 years ago
Hopefully many of these consumers bought a house they play on living in as a long term investment.
As a reponse to lennyfest, I will probably buy this year. After living in crowded NYC for 7 years and LA for 2, I can't wait. I've saved cash, been patient, and look forward to getting in while the interest rates are good and selection is awesome.
Our company has bought around 30 REOs this year in the Southern California area to rehab and sell. Going very well.
TheNorrisGroup 3 years ago
This has been flagged as spam show
hate all you politicians for keeping me trapped in hardship and making my dearest dreams and hopes unreachable by keeping rents and home prices too high for the slave wages you offer! screw you all! screw your war machine! I hope you misery makers sink into the ocean and get hurricaned shitless
5303691 3 years ago
Hmm...did they stop to consider whether they could actually afford a $600K house? Of course not--they only saw an upside, and now that their "inheritance" is gone, they bawl out their eyes to the media. Tough, that's how you learn financial responsibility. No bailout for these babies!
ksocean 3 years ago
anyone that is thinking of buying a home in this market should get there head checked
lennyfest 3 years ago 2
Of what were these people thinking? What would make people think they could afford to buy $600K home? I cannot blame it all on the banks. Pure greed and stupidity. Anyone willing to listen just a little knew this was going to crash and burn years ago.
reniam 3 years ago
I have absolutely NO sympathy for these stupid bastards
clopoplol 3 years ago
waaaa! this was an inheritance! shut up bitch.
jannonymous 3 years ago
If anyone actually did math (god forbid), 600k is more than renting over 30yrs! Plus, you don't need maintenance!
kng863 3 years ago
hahah to the losers who bought at the top! 600k house? Comon, can average people on tax bracket afford that? Do people not understand economics?
kng863 3 years ago
Most people actually don't understand economics. American culture is one that teaches people to live at a maximum. If you can't afford it now, they teach us to borrow and pay back later. All the while - finance companies and mortgage brokers are enslaving millions of Americans for a lifetime. We (as a nation and culture) must learn that bigger is not always better.
VideoGuyNC 3 years ago
I sincerely hope that house values DON'T go back up like they have in the past. People need to realize that a house is NOT a luxury, it's a must have for all. Nobody needs these sickeningly huge estate-homes. It's time we start helping those who weren't born with a silver touthpick in their teeth. Let's ALL start looking into tiny homes. More economical to maintain, easier to keep clean, and more eco-friendly. F**k the McMansions.
VideoGuyNC 3 years ago 2
but now they are so cheap. everyone should have one.
nnossov 3 years ago
My friend - house values haven't dropped that much. Mostly the statement "Houses are so cheap now, anyone should be able to afford one", is just a corporate hype statement. In this nation, when we waste BILLIONS on the NASA fraud - no one should be without a home. I do however think that we need to, (as a nation) re-evaluate what we standardize as normal housing.
VideoGuyNC 3 years ago
Paying 500K for a house you can buy any where else in the country for 150K come on its about time the market adjusted, live and learn. Ha
extsieg 3 years ago
Well it seemed like an interesting idea to let crooks run the country. Perhaps greedy people need a better way of venting themselves than screwing there fellow Citizens to the wall.
theGetRealGuy 3 years ago
Why is she crying!!!! Is she in default. If not just live in the house. She said its an inheritance, so why sell it and why cry. The price will eventually rise. What the fuck is wrong with people who live in good houses but have a fucking heart attack because they here its value dropped. Who gives a shit. Did you buy it to sell it like a used car dealer or did you buy it to live in it. So live in all ready.
Anothercoilgun 3 years ago 4
EXACTLY! EXACTLY! People make it a business theses days when they shop for a house. They want to sell it for the same , if not more of the houses value after they have lived in it. This is greed, human greed. Instead of living in the house they are worried they wont be able to get the MONEY they spent on it. Money > Good Living for them...fucken morons
FreeYourMind818 3 years ago
That's right you said it. Let them
moniequa 3 years ago
we can't blame the government for everything...lets tart blammin the public as well... idiots buy a house in 2001 for around 165,000 ... take it to a realtor who says they can sell it for 600,000 and the seller is happy he can make 300%+ profit... no one questions the seller on WHAT RIGHT U HAVE TO SELL IT AT THAT PRICE...HAVE U MADE THE HOUSE INTO GOLD?
FreeYourMind818 3 years ago
Very true. But who would buy a 600K house that was 165K 3 years ago? Well guess what, anyone who could get approved for the loan. Why? Because damn there every house regardless of the neighborhood, age, or size, went through the roof. Buyers were forced to get the 600K because no one would sell for less. Then believing that 600K house the buyer was force to buy would continue to rise, it won't be so bad. But too bad for that 600K busted.
Anothercoilgun 3 years ago
thats what a stupid growing economy does, it hyper-inflates homes so that the new generations cant buy one, the goal here is mass misery and homelessness, thats what politicians want! if politicians wanted freedom they woulodnt have stolen the land from Americans and called it freedom! if they really were for freedom you would have tax free land. natives are the only ones who will never be homeless! Americans are the ones that would fall into disgrace and slavery with economic growth.
8boomerangz 3 years ago
A people without land is an owned one , politicians want to control and enslave citizens on every societal level politicians wont allow their folks prosperity and liberty. Just look at land taxes the housing inflation explosion of 2003 and minimum wage in comparison, the blueprint for homelessness and enslavement is all over it.
xxx3951 3 years ago
only a dumbed down american public could purchase stuff that is not *really* worth what they paid for it. I've worked in Construction for a few years and the costs of what these people are really paying for is a joke. These people would be better off learning how to hammer than making money through some scheme or another.
OmarThePug 3 years ago
I was leaning towards Obama until now! I just read the Washington Post. Obama got a sweet heart deal when he purchased his mansion. No Points, no origination fee, and a lower interest rate. Why? Because senators monitor and regulate the lending industry. he basically was paid off to look the other way and NOW our home values are dropping and foreclosures litter the landscape. Obama and Dodd, YOU ARE scum for taking this legalized pay off! You have cost us A LOT of EQUITY and MONEY!
RadicalDemocrat 3 years ago
Stop posting the same cut and past b.s. you fucking moron.
Anothercoilgun 3 years ago
I keep doing it until I calm down and cool off. It has REALLY PISSED ME OFF. They were supposed to be watching the chicken coup but they looked the other way because of favors from the lending institutions. Now WE will all PAY dearly for it. They have put investment banks on life support and fixing to place Freddie mae and Freddie Mac on life support. Home PRICES will continue to plummet. And THEY let it happen. What AM I SUPPOSE to say? Thanks CONGRESS!!!!!!!
RadicalDemocrat 3 years ago
This has been flagged as spam show
I'm surprised that American realtors and home owners nationwide haven't started a national protest movement to burn all the bank-owned foreclosure properties....
1)
it would drastically improve the housing market and
2)
they would actually get something for their tax money being confiscated by Congress to pay off the distressed banks who hold the titles. How many house titles has the Fed (they caused the bubble with too low interest rates)received from distressed banks as collateral?
TexnTuber 3 years ago
Which respectable market will be hit next?
Vancouver, BC Canada?
Seattle, WA?
New York City?
Boise, ID?
gordyt99 3 years ago
Seattle and Boise are already starting to get hit. My good friend is dumping his house in Washington. Vancouver then NY after.
Rspringscabin 3 years ago
YEAH! Now the people who can AFFORD their homes, have good credit and a sizable down payment, as well as strong income can get into a house!!! We've been waiting!
nparga23IsAFaggot 3 years ago 2
idiots sshould have never paid that much in the first place. I am glad they are taking it in the shorts. They deserve it for being so fucking stupid
jazzbandball 3 years ago
youre funny as fuck,they paid too much?, so they were supposed to live in a tent or tepee while the inflation was creeping upwards and pray for it to go down while they live no where, according to you? THATS WHAT THEY WERE WORTH THEN! so that stupid "they shouldnt have paid that much" line is so retarded.
wanz808 3 years ago
politicians are trying to legalize human slave auctioning and murder by increasing the costs of living and keeping minimum wage low where middle class citizens and below become poor, restrained, and starving, Americans would
become sacrificial slaves like the Aztecs! this is what politicians want, and thats why a president and his economists (who are probably Freemasons) are the ones who call walstreet
to hike societal prices and create more poverty and misery.
destroypolitics891 3 years ago
Minimum wage doesn't have much to do with it other than for things like some unions that base their wage partly on the minimum wage. Anyone with combed hair and who shows up on time can make more than minimum wage.
WesSeid 3 years ago
bush's economists and a few geopolitical mystery boy societal miserators from the white house are the ones who call wallstreet and command price hikes on gas housing and food whenever they can. fuckin misery makers.
lilhourigan 3 years ago
bump!
american government and politics must be destroyed by god
destroypolitics891 3 years ago
WALL STREET fucking everybody around them for ... THEIR own wealth ... HAVE you heard what kind of checks are they getting at the end of the YEAR ...
aviomaster 3 years ago
yeah, with a pool in the backyard, they gonna have to tough it out in sunny california.
mrzack888 3 years ago
The housing bubble is/was a land speculation bubble because only land value appreciates not the value of improvements. All our tax laws and monetary policies have been designed to promote real estate/home ownership but the effect has been to give incentive to speculate. Those people who buy homes as investment first and use second were enticed to do so by bad public policy and it has driven up the cost of housing for everyone. We are just pimping our Mother Earth and think it smart to do so.
ourearthhome 3 years ago
speculation, thats such bullshit! a bullshit excuse to hide the fact that presidents and their economists are the ones actually responsible for lowering and rising societal costs, nice try taking blame off the responsible miserators through
lilhourigan 3 years ago
White people we are going to buy your homes for pennies on the hundred dollars soon. GET OUT OF MY COUNTRY WHITE MAN YOU ARE NOT WELCOME.
javiarinmexico 3 years ago
Stupid blond bitch you should have known better IDIOT.
tomincal 3 years ago
lol you fu cking yuppies. Feel the pain of your stupidity! 88
tomincal 3 years ago
This has been flagged as spam show
POLITICIANS are the crib of the economic engine and are responsible for all rises in inflation all reforms and vetos and revolts and societal poverty! presidents are the ones responsible negating property rights through legalised extortion such as rising taxes rising home costs (when wallstreet can) all forms of cost inflation and rising costs is politicaly engineered! dont be swayed by lies
and bullshit on CNN trying to render innocent politics from the societal collapsing effects it creates
lucidgenius88 3 years ago
these cockroaches blame poeple for buying an expensive house in the hopes you forget
that theyre the ones who fucking engineered housing inflation to rise! because the poeple who blame would prefer you live in a fucking teppee or in the street these poeple support homelessness theyre fucking poverty supporting nomads!
lucidgenius88 3 years ago
american politics wont even allow american peOple the freedom to own tax free land, so that they can send citizens to the gutter through inflation and tax rise! the only free poeple are the ones who dont pay property tax! yes natives! they have all the services and no tax! WHILE WE GET ENSLAVED INTO POVERTY HOMELESSNESS AND DISGRACE! NO SUCH THING AS APPARTMENT BUILDINGS ON NATIVE RESERVES! THATS TRUE FREEDOM! NOT THAT FAKE SHIT DEMOCRACY THEY FILL YOUR ASS WITH on tv
lucidgenius88 3 years ago
the asshole lucidgenius88 posted that crap allover youtube
smellychoclate 3 years ago
DUMB ASS'S! LOL!
T6S666 3 years ago
Banks suck.
Imagitv 3 years ago
its only a tragedy when theres no more equity. Who in there right fucking mind would pay 600k for a tract home in the middle of the ca desert? they thought they'd make money and are screwed now.greed is a SOB.600K zero down, on a neg am iam sure. fkin idiots
krispob1 3 years ago 5
Oh My God I am so enjoying seeing those fucking greedy idiots losing their homes.
moniequa 3 years ago
Sucked in, y'all. For once, I'm looking pretty smart for renting.
halidefox 3 years ago 3
Amen, Bro! I felt like an idiot for walking away a couple of years ago. Glad I did.
clannon 3 years ago 2
A lot of this to come in the U.K i'm sorry!
campeona5 3 years ago
dont listen to fake freedom politcal slogans!
theyre bullshit! real freedom is the freedom to own tax free land. if you pay the same old extortion taxes on land, you dont own it , stop paying those taxes to the gov mafia and the lands gone, we still kinda live in the days of kings and queens where we commoners have to give money to the king! fuck this extortion, fuck presidents kings and queens were not fucking bees, were human beings and we have the right to own tax free land! OUR LAND.
streiinbaun 3 years ago
I think it's funny when I read articles saying that vultures are buying condo's in Florida, and that means where at the bottom of the market. Here's the truth: When you are at the bottom of the market there are no buyers...that's why it's the bottom. We have a long way to go. I live near Boston, and have been through this before (40% reduction in values from 1988 to 1994). Did you vote for George Bush? If so, you voted for this mess. Forget Iraq, he's the worst economic president in history.
gdcapra 3 years ago 2
Has little to do with Bush (somewhat) has MUCH more to do with the Fed....our markets would have collapsed in '01 if not for low interest rates
gladiator1010 3 years ago