Aussie foreclosures (video)

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 692

Aussie foreclosures (video)

Aussie foreclosures

We bought a house might loose a lot of money. We are paying punctual and lot more than we should, but the value of our cute home might drop a lot, as the video suggested.

The mortgage crisis make the normal people poor, as they pay a lot more for their houses than it would cost without subprime mortgages and the banks and real estate agencies rich.

joeltrout · Posted: Mon May 12, 2008 11:00 am Post subject: Re: Aussie foreclosures (video)

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 692

maybe I didn't wrote it clearly:
The subprime loans drove house prices up as people were able to take higher loans as they could normally. Who gains? The bank and the real estate. Who looses? All those who take out traditional mortgages, as they (we ) pay much more for the house than we normally.

It made me a bit cross - this family in the film, nearly crying in front of their newly suburban house they can't afford. Why didn't they search for an older cheaper home? Why is there a brand new car in front and an expensive trampoline for the kids? That are simply guys who can't live within their means, I guess.