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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
04-12-2012, 10:55 AM
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#1
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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people lost BILLIONS in the tech bubble of the 90s. A reeession followed.
Why didnt the government step in and make them whole? Why wasnt there a program to help investors recoup their losses?
Because people were investing and investments can result in a loss. A home is an investment. Period.
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making s-b.com a kinder, gentler place for all 
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04-12-2012, 12:49 PM
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#2
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,480
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Quote:
Originally Posted by RIJIMMY
people lost BILLIONS in the tech bubble of the 90s. A reeession followed.
Why didnt the government step in and make them whole? Why wasnt there a program to help investors recoup their losses?
Because people were investing and investments can result in a loss. A home is an investment. Period.
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You're using "investment" in a very broad way.
The only reason people invested in tech stocks was for capital gain.
The primary reason people invest in a home is for shelter and quality of life.
As such the regulations regarding these two methods of investment are quite different. Period.
-spence |
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04-12-2012, 01:17 PM
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#3
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sick of bluefish
Join Date: Aug 2003
Location: TEXAS
Posts: 8,672
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Quote:
Originally Posted by spence
You're using "investment" in a very broad way.
The only reason people invested in tech stocks was for capital gain.
The primary reason people invest in a home is for shelter and quality of life.
As such the regulations regarding these two methods of investment are quite different. Period.
-spence
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both have risks, you can have shelter easily without buying a home, and you should only buy both if you can afford them.
Neither are GUARANTEED. period |
making s-b.com a kinder, gentler place for all
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04-12-2012, 03:44 PM
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#4
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,480
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Quote:
Originally Posted by RIJIMMY
both have risks, you can have shelter easily without buying a home, and you should only buy both if you can afford them. Neither are GUARANTEED. period
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You're missing the point.
Irrespective of income, the affordability of a stock is highly dependent on risk and return, while the affordability of a home is highly relative to location and market conditions.
I don't have to put any of my income into high tech stocks, but I do have to put income into housing. Most people can't afford to buy a house (or rental property) with cash so large loans are required.
Because of this dynamic, there is risk for both the lender and the borrower (in contrast, a business takes no real risk when it sells me shares of it's company) and as such both ends of the contract are regulated...this is very different from buying and selling equity shares.
That neither is GUARANTEED is an abstract point.
-spence
Last edited by spence; 04-12-2012 at 04:22 PM..
Reason: spelling
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04-13-2012, 07:27 AM
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#5
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Registered User
Join Date: Jul 2008
Posts: 20,441
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Quote:
Originally Posted by RIJIMMY
people lost BILLIONS in the tech bubble of the 90s. A reeession followed.
Why didnt the government step in and make them whole? Why wasnt there a program to help investors recoup their losses?
Because people were investing and investments can result in a loss. A home is an investment. Period.
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EXACTLY, EXACTLY, EXACTLY. Why didn't the feds come in and give me back the money we all lost.
I'll disagree that most homes are simply investments...to many people, a home is just that, a "home", a place to raise kids and watch them grow. But a lot of these people who are now underwater bought these houses SPECIFICALLY as investments, planning to sell the house when the price doubled, because they knew they had no chance of re-paying the mortgage when variable rates were re-set. Their financial loss is no different than what people lost in the stock market crashes of 2001 and 2008. |
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04-12-2012, 02:28 PM
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#6
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Registered User
Join Date: Jul 2001
Location: Outer Banks NC, Charlestown RI
Posts: 1,053
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Hey you go out and buy a car that you can't afford what happens? They come and take it away, same standard should be in place for homes. Pay the bill or loose the house. Then you can rent. Stop blaming everyone else!
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04-12-2012, 05:52 PM
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#7
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Retired Surfer
Join Date: Dec 2000
Location: Sunset Grill
Posts: 9,511
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Everyone knows the potential of an ARM, everyone. Everyone who takes them out hopes they stay the same or goes down, they don't. I understand what your saying. Hell people came here from other countries with no verifiable income and were given mortagages.
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Swimmer a.k.a. YO YO MA
Serial Mailbox Killer/Seal Fisherman
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04-13-2012, 09:46 AM
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#8
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Registered User
Join Date: Oct 2006
Location: Marshfield, Ma
Posts: 2,150
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Would love to pick up a nice foreclosed house down the Cape for short money. This is also a time of opportunity!!!
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"I know a taxidermy man back home. He gonna have a heart attack when he see what I brung him!"
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04-14-2012, 08:04 AM
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#9
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,708
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I'm with spence on this one.
Posted from my iPhone/Mobile device
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04-14-2012, 08:15 AM
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#10
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Registered User
Join Date: Oct 2006
Location: Marshfield, Ma
Posts: 2,150
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What's next? Reducing the principle on small business loans? Give me a break. You own the loan, not the people.
Posted from my iPhone/Mobile device
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04-16-2012, 07:47 PM
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#11
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Registered User
Join Date: Jan 2009
Location: lunenburg, ma
Posts: 349
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Hmmm...Whatever happened to that TV Show "Flip that House?"
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