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A visual guide to the housing crisis

 
 
Reply Tue 25 Nov, 2008 11:45 am
http://www.ritholtz.com/blog/wp-content/uploads/2008/11/visualguidecrisis2.jpg

http://www.ritholtz.com/blog/2008/11/visual-guide-to-the-financial-crisis/

Cycloptichorn
 
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chai2
 
  1  
Reply Tue 25 Nov, 2008 12:28 pm
People didn't (still don't) have their priorities straight.

Going all the way back up that ladder to house flipping, is a pretty good place to start.

Yeah sure, some people made quite a bit of money doing that, but on the whole I think most people had the idea it's much easier than it is.

They see some shows on cable TV that make it sound like you can buy a house, go in (while wearing designer jeans and having your hair done up in a cherry kerchief) throw in an extra bathroom, over a weekend, put up a sign in the front yard, and there you go.

How many people really made that significant a profit? I don't know the figures, but I'm betting by the time you subtract all your costs, your time, agita, etc. it wasn't anything to write home about.

What ever happened to buying a house and living in it?

In the chart, there's that quote that anyone who owned their home outright was liable to be called a fool. Well, who's the fool now?

When I had a windfall, I paid off my house, and I sleep better at night than many people.

There's this idea you always have to be on the edge, that you should always be aquiring more, to hell with the idea you don't have enough ready cash to buy groceries next week.

Like it would be so humiliating to live within your means.

0 Replies
 
chai2
 
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Reply Tue 25 Nov, 2008 12:31 pm
@H2O MAN,
Jesus Christ I am really getting tired of your broken record.

Don't you have anything else to say?

I could post a thread about Angel Food Cake with 7 Minute Frosting and somehow it would get tied in with your boring obsession.

You and a few others, would you just grow up?

give it a rest, ok?
Mame
 
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Reply Tue 25 Nov, 2008 02:18 pm
@chai2,
Yo, chai, can I have that recipe?
Wink

0 Replies
 
 

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