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Thread: Your "liberty" is just getting spread around

  1. #1
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    Your "liberty" is just getting spread around

    Who's getting Obama's free money for housing?

    http://money.cnn.com/2011/02/01/real...ions/index.htm

    Using fuzzy numbers from the article... a 40% reduction of a $232k mortgage would be equal a monthly handout of around $480!

    Wow! I could use another 5 bills each month... but am undeserving since I f*cking plan for rainy days.

    Ranger

  2. #2
    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by Ranger View Post
    Who's getting Obama's free money for housing?

    http://money.cnn.com/2011/02/01/real...ions/index.htm

    Using fuzzy numbers from the article... a 40% reduction of a $232k mortgage would be equal a monthly handout of around $480!

    Wow! I could use another 5 bills each month... but am undeserving since I f*cking plan for rainy days.

    Ranger
    Ditto.

    We paid off our mortgage; we have no debt. But no one is giving me a check for being responsible.

    I honestly sometimes think I should join the Maggotry and wrack up $60,000 on my credit card to finish the basement remodel I've been working on - then say, ACK! Ya loose! I'm not gonna pay!

    Apparently, only suckers pay their bills....

  3. #3
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    Agreed. Unfortunately you are punished for being responsible since you're paying the bills of others while your investement/savings value is subject to the declining dollar (Bailouts, QE1, QE2, etc.)

    I was taught at an early age that you don't purchase something that you cannot afford or buy outright. My parents were pissed when they learned I had a credit card (and I was 18 and out of the house!)

    The youth today are learning their lessons from these parents with strategic defaults, bailouts, subsidies and entitlements (the government is teaching these same 'principles.') Just think how these snowflakes are going to manage their funds (and our country!) in 5 or 10 years.

  4. #4
    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by Ranger View Post
    Agreed. Unfortunately you are punished for being responsible since you're paying the bills of others while your investement/savings value is subject to the declining dollar (Bailouts, QE1, QE2, etc.)

    I was taught at an early age that you don't purchase something that you cannot afford or buy outright. My parents were pissed when they learned I had a credit card (and I was 18 and out of the house!)

    The youth today are learning their lessons from these parents with strategic defaults, bailouts, subsidies and entitlements (the government is teaching these same 'principles.') Just think how these snowflakes are going to manage their funds (and our country!) in 5 or 10 years.
    Yep.

    And when it becomes evident to the declining percentage of Americans who still live within their means, live honestly and responsibly, etc. - that there is no upside to this (other than knowing you're not a scumbag); indeed, that being responsible amounts to asking to be punished in this society - then I think the jig will be up.

    Atlas will shrug.

    I was thinking about the "Clunker" program. Remember? I have never bought a new car because I always pay cash for my vehicles, so I buy older models.

    The "Clunker" program gave thousands of $$$ to people, to "encourage" them to buy a new car - at my expense and your expense. Not just in terms of taxes, but because the "Clunker" program has driven up the cost of used cars, of which there are fewer now, courtesy of the crusher.

    It's infuriating.

    The dick down the street gets $4,500 from Uncle (you and me) to help finance his new Prius; we get to pay more for used cars because we're not interested in leeching off others or getting ourselves into debt for the sake of a new car...

  5. #5
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    HaHA. It's painful but I have to laugh at that one... seriously who thought that was a great idea (except for those benefiting... that work in/around the auto industry or those that got the 'rebate'.)

    ...and you're giving the buyers too much credit mentioning the prius. The average mpg for the cash-for-clunkers program was 24.9 mpg so for every prius or fiesta there msut've been an escalade or an F-250.

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    So let's see - the average mortgage is $232,000 while the average income for the borrower helped by Obama's program is $46,000, yet only 11% of the mortgages were deemed "unaffordable." What are these idiots smoking?

    I don't think that they passed 4th grade math. The mortgage for that $232k house is $1600.00. What do they have for dinner? Catfood?

    These units are unaffordable by any standard.

    I would never pay $200,000 for a house unless I was making $200,000 per year. With that, I could be assured of paying the loan back. Otherwise, no dice.

    Reading articles like this... excuse me while I hurl.

  7. #7
    Senior Member Mithrandir's Avatar
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    Quote Originally Posted by swamprat View Post

    I would never pay $200,000 for a house unless I was making $200,000 per year. With that, I could be assured of paying the loan back. Otherwise, no dice.
    Unfortunately in many parts of NJ $200,000 to $300,000 is probably about the price of a decent 3 bedroom, 2bath one story ranch with a decent school district.

    I have trouble figuring how prices are so crazy and who has the money to pay for these houses.

    20% of $200,000 is $80,000. I do not know many people with that kind of cash on hand for a down payment.
    Sincerely,
    Anthony

    'Many are my names in many countries,' he said. 'Mithrandir among the Elves, Tharkûn to the Drarves; Olórin I was in my youth in the West that is forgotten, in the South Incánus, in the North Gandalf; to the East I go not.' Faramir

    What nobler employment, or more valuable to the state, than that of the man who instructs the rising generation? Cicero (106BC-43BC)

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