Subject	Exactly, and most of banks are doing poorly as a result
Posted by	en5 on February 25, 2008 at 11:30 AM
	This message has been viewed 35 times.
In Reply To	thanks, I get it. posted by ZEngineer on February 25, 2008 at 11:24 AM
Message	Of people not being able to pay their mortgage. Believe you me, banks don't want to take your house away, they want your money instead. Especially in this market, they know that your payments were like $1500 and now the new person will be paying $1000 instead. So that puts extra stress on the rest of the parts of the bank, which is why you don't see many high interest savings accounts anymore also. They used to be up in the 5%s, and now have dropped into the 3's, if they are even offered at all now. The high cost of living also resulted in less consumer spending. It was all tied together and interesting to see how they effected each other. It really was the ingredients a bad bad scenario that is resulting in awful things happening to a lot of people that got in over their head and didn't even realize it.
Follow Ups	SZR:Z's gets a new home..... - BradleyTT(OK) 09:44:17 02/25/08 Congrats, but pics of the garage would be nice. :P (n/m) - MistressZ 09:46:18 02/25/08 in the immortal words of Bernie: "theres a house?" - Guapo 09:46:59 02/25/08 Indeed. (n/m) - Bernie (NoVA) 12:21:25 02/25/08 Bad night shot - BradleyTT(OK) 09:50:33 02/25/08 I want to cry. That amount was just the taxes - NisBo 19:29:36 02/25/08 29k? is that the loan amount, or the total cost? (n/m) - SactoTodd 09:51:15 02/25/08 total cost - BradleyTT(OK) 09:53:35 02/25/08 That's not even a down-payment around me! (n/m) - Barry'z (NJ) 09:54:42 02/25/08 And everyone picks on us for living in Ok..my house - MistressZ 09:56:02 02/25/08 1/3rd acre and my property taxes are $12K (n/m) - Barry'z (NJ) 10:02:49 02/25/08 Gotta love Jersey's property taxes...my parents last home in - Adam(Phoenix) 10:45:05 02/25/08 I have a 1/4 acre, propery taxes are $4850. (n/m) - resorb (NJ) 13:57:40 02/25/08 Re: 1/3rd acre and my property taxes are $12K - D-JAY 21:38:50 02/25/08 it is still Oklahoma. ;) There are many reasons I left - spotz 10:08:35 02/25/08 I completly understand. I have 5 years until I can leave. (n/m) - MistressZ 10:09:53 02/25/08 why 5 years??? - BradleyTT(OK) 10:26:48 02/25/08 she gotta get her Z running before she can leave (n/m) - ZEngineer 10:29:52 02/25/08 it runs ... - BradleyTT(OK) 10:32:23 02/25/08 The Z is still running. :D I can't leave until my daughter - MistressZ 10:39:42 02/25/08 There is a reason why it is SO cheap here - LJZTT 12:17:38 02/25/08 There are hicks/rednecks in everyplace - spotz 13:08:12 02/25/08 2nd - Zleepertt(MD) 11:11:39 02/25/08 I'm looking in the Aberdeen area myself (n/m) - spyhunterTT(nj) 18:17:28 02/25/08 2nd. - Scotts94z32 12:06:01 02/25/08 Re: 2nd. - SactoTodd 22:31:45 02/25/08 wow nice find. Can't waite to see you finish it and post - John@z1 09:58:08 02/25/08 Nice, I guess I live in the wrong state, 29K would not even - Cap927(Boston) 10:16:19 02/25/08 This new house isn't that good of a deal (for me) - BradleyTT(OK) 10:24:02 02/25/08 2nd, I wish, I would have just paid cash (n/m) - CRAZZEPETE. 10:32:32 02/25/08 After Katrina 29K down here will pay rent for 8 months. (n/m) - scottyfender 10:00:28 02/25/08 I think he's missing a 3 or a 2 or at least a 1 at the front (n/m) - BigTDogg (MA) 16:18:02 02/25/08 is the new owner of the n/a a member here? (n/m) - Ahmed 09:58:24 02/25/08 yes - BradleyTT(OK) 10:07:17 02/25/08 ok just curious - Ahmed 10:37:05 02/25/08 I hated to see him sell it - BradleyTT(OK) 12:04:34 02/25/08 my friend Raiyomand was just really happy - Ahmed 12:49:48 02/25/08 I'd pick up half a dozen at that price - ZEngineer 10:33:50 02/25/08 2nd (n/m) - BradleyTT(OK) 10:35:51 02/25/08 not sure exactly, but in the US I imagine it has to do - CRAZZEPETE. 10:38:57 02/25/08 same situation here in Montreal - ZEngineer 10:42:03 02/25/08 Well guys everything is relative... - Barry'z (NJ) 10:45:08 02/25/08 in the Toronto area, we have 200 000 imigrants per year - CRAZZEPETE. 10:53:27 02/25/08 but consdiering the number of immigrants that pack into each - ZEngineer 10:56:40 02/25/08 lol.. but that's stereotyping (n/m) - ZCulture 11:29:01 02/25/08 that's what makes it funny ;) (n/m) - ZEngineer 11:34:54 02/25/08 this is the fourth such story of people picking up homes - ZEngineer 10:54:48 02/25/08 Check this one out... - Barry'z (NJ) 11:12:37 02/25/08 Short version: People were greedy and inflated the market - en5 11:13:47 02/25/08 thanks, I get it. - ZEngineer 11:24:53 02/25/08 Exactly, and most of banks are doing poorly as a result - en5 11:30:52 02/25/08 well, if it's any consolation, things up here aren't - ZEngineer 11:38:30 02/25/08 Heh that sucks. And it's like, with inflation, that 2.5% - en5 11:42:44 02/25/08 Keep in mind that the housing problems here in the US - Z_Cherub 11:27:25 02/25/08 Considering that puchasing or owning a home is the single - Adam(Phoenix) 11:02:51 02/25/08 I see, so what's worrisome isn't the actual price of homes - ZEngineer 11:07:22 02/25/08 Home prices arent falling, theyre normalizing. - ZiNnYc 11:12:34 02/25/08 Exactly...a readjustment to actual value. (n/m) - Adam(Phoenix) 11:48:45 02/25/08 Not really. That was a case of people foolishly - Guapo 11:13:30 02/25/08 2nd. (n/m) - Barry'z (NJ) 11:23:50 02/25/08 I'm in complete agreement with you... - Adam(Phoenix) 11:44:28 02/25/08 It all trickles down eventually and the socio/economic - Adam(Phoenix) 11:31:29 02/25/08 It has nothing to do with that in his case, actually. - ENVYMYZ 11:36:41 02/25/08 2nd...OKC was listed as the cheapest "large metropolitan" - LJZTT 12:23:03 02/25/08 because it forces out all the incompetent modern day - LJZTT 12:21:46 02/25/08 I'm speechless...completely stunned...jaw wide open... - Hawkin"Z" 10:46:20 02/25/08 me and the gf are thinking the same thing, we hate - CRAZZEPETE. 10:51:52 02/25/08 I want you to say "residule" 5 times, out loud - ZEngineer 11:23:20 02/25/08 say anything 5 times and you'll turn into it (n/m) - CRAZZEPETE. 11:55:46 02/25/08 Lol...a Canadian saying "Up North" :-) - Hawkin"Z" 13:13:19 02/25/08 in Cali, you're paying for much more than the home - ZEngineer 11:14:07 02/25/08 excellent ... so you received the brochure :) (n/m) - Guapo 11:27:06 02/25/08 nope, I lived it first hand, free Spanish lessons by the - ZEngineer 11:45:41 02/25/08 probably for the best (n/m) - Guapo 11:53:11 02/25/08 Then you visited and barked at local hotties while your gf - Scotts94z32 12:07:34 02/25/08 "while your gf was entertaining my giant" - ZEngineer 12:17:38 02/25/08 I think her height was about Six-Foe. (n/m) - Scotts94z32 13:44:05 02/25/08 something about women with big feet, anything beyond - Cap927(Boston) 15:23:36 02/25/08 I know how _I_ was interpreting it! :X - TT XTZ 14:20:36 02/25/08 "Charlies Angels!!!" (n/m) - spicyZ 14:44:48 02/25/08 Let me know if you visit the Houston area. - Dustin 13:53:55 02/25/08 I'll be in Dallas, at a Small Arms conference no less! (n/m) - ZEngineer 14:05:17 02/25/08 How fitting. - Scotts94z32 16:11:03 02/25/08 True indeed...but 15 times as expensive is kind of insane! (n/m) - Hawkin"Z" 13:15:43 02/25/08 15 Times? It's more like 30-40 times around here (n/m) - turtleboy 15:07:28 02/25/08 Crazy enough, the jeep rubicon has the garage... lol - 91300zxttkid 13:15:00 02/25/08
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