Friday, May 6, 2011

I thought i’d heard it all until this article

People not paying mortgages boosts spending!

great news!!!...apparently people not paying their mortgages is good for the us economy 'cos it means they can spend spend spend on other things.......I give up

Posted by taffee @ 04:12 PM (1528 views)
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5 thoughts on “I thought i’d heard it all until this article

  • If that’s the case, everyone stop paying.

    Let’s see if this is true. I give up.

    What they are trying to say is that too much money going into banks is not as good as people having the money in their pockets.

    HPC anyone? Too big to fail or too big to survive? If were going down, were taking everyone else down with us.

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  • yep all over the states people are living in houses for free as foreclosures take so long, they even give them cash for keys so they leave the house, it is all so wrong when prudent savers are being screwed daily, while the idiots of the world are being rewarded, next time we should all become idiots and screw the system

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  • What’s the point in waiting to buy? I’ve been waiting since 2007 for a crash and apart from 2008 the places where I live have been going up, up and up! I bought my first place in 1989 then interest rates shot up. I had three jobs and worked seven days a week to cover the mortgage. No one cared about my struggle then. I ended up selling the flat for less than I sold it for in 2000 as the neighbourhood had changed and no one wanted to live where I bought. Luckily i bought again with my new partner in 2004 but previous experience told me to sell in 2007. Since then there has been nothing but help for those that over mortgaged themselves. Now interest rates will be kept low whatever happens. There is no point in saving just buy and jump on the debt train!

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  • It probably is good news for the US because they sliced, diced, & sold all the dodgy debt to mugs all over the world. including the UK.

    That is why we have the “special” relationship.

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  • No sense of responsibility, but they seem quite happy with that.

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