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What Most Concerns You About The Current Economic Crisis?

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pnwDUDE:
What bothers me the most doesn't have too much to do with me. Not wealthy by any stretch, but happy to have our little cow and calf operation. What I worry about is young couples starting to raise families and unable to buy homes. For many it is impossible. Many baby boomers bought real estate when it was affordable. Upon retirement they made a bundle. They were able to help their kids (down payment, etc) get into homes. Those people are disappearing, and there is no way a young couple can come up with any sort of down payment, much less make payments, on a $300,000 home. And in my part of the country, that won't buy ya' much.

The other thing that bothers me is young peoples priorities. I know people who make good money, have $1000 a month payments for trucks, boats, etc., and don't have health insurance. I pay $990 a month for insurance coverage for Steve and I. That money could go toward 'toys', but we have our priorities. Those 'toy' priorities for lots of folks I know bother me.

Brad

injest:

--- Quote from: bradINblue on October 29, 2008, 10:24:31 pm ---What bothers me the most doesn't have too much to do with me. Not wealthy by any stretch, but happy to have our little cow and calf operation. What I worry about is young couples starting to raise families and unable to buy homes. For many it is impossible. Many baby boomers bought real estate when it was affordable. Upon retirement they made a bundle. They were able to help their kids (down payment, etc) get into homes. Those people are disappearing, and there is no way a young couple can come up with any sort of down payment, much less make payments, on a $300,000 home. And in my part of the country, that won't buy ya' much.

The other thing that bothers me is young peoples priorities. I know people who make good money, have $1000 a month payments for trucks, boats, etc., and don't have health insurance. I pay $990 a month for insurance coverage for Steve and I. That money could go toward 'toys', but we have our priorities. Those 'toy' priorities for lots of folks I know bother me.

Brad


--- End quote ---

I have a friend that was offered one of those subprime loans back a few years ago...no down payment, no background check...she walked away...said it 'smelled funny, buying a house wasnt' supposed to be like that' (she had gone in to see what she needed to do to get into a house, her credit isn't perfect)

now she is feeling like a fool. People that try to do right get screwed.

she has a better job and feels more secure..she went back to see about a loan a couple of months ago? they told her she would need HALF down. WHO THE HELL can come up with HALF?

if she had taken the subprime, the gov would ride in and protect her...but since she tried to do the right thing she is unlikely to ever have a home.

underdown:
I voted 'potential global recession'.

Because that covers all the other answers, as well.

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