Interesting article on Nomadic lifestyle
Nomadic lifestyle
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TechWriter wrote:Grit dog wrote:TechWriter wrote:Grit dog wrote:
While there, again, are many who have a good reason for being in the situation they are, there are more that who spent more than they earned and somehow thought it would magically work itself out.
How do you know this?
Go back and read my post above. That’s how I know. Saw these folks daily and hung out with several of them.
Well, if I had known that you are drawing your conclusions from a whole "several" people, I never would have questioned your vast generalizations.
First before I go off on vast generalizations, remember I said I understand that there are many that get down on their luck through no fault of their own.
But think about this genius. There never would have been a crash of 2008 or 2006 depending on what part of the country if people weren't generally spending "equity" that they never had in hand in cash money.....it was like perpetual motion, fueled by millions keeping up with the joneses. Maybe I met the only 20,30, 50, however many people that went ahead and spent all the "free money" they though they had. Or maybe it was the banks' fault for handing $ out like candy at Halloween.
When I get pre approved for over a 300k loan with no money in the bank (well like only 10-20k) and a JOB OFFER LETTER only for $70k a year and no employment history the year prior. (Built a house for free....just so you don't think I was hanging out playing video games). Something is wrong. I laughed at the clown and asked him if he thought I was as dumb as he was for offering me that much.
BUT alas, few years later, after getting more offers for home eq loans than I could count, we pulled an eq loan for a quick 100k, in 10 minutes in our living room from a door to door equity loan salesman. Seriously, door to door salesman. Needed cash for a downpayment on another house and got it as easy as going to the atm machine.
What's all this matter for? Because there weren't door to door loan salesman because no one was making poor choices. It was because dang near everyone was making poor choices. Period end of story. Sorry you were either someone who made the same greedy dumb decisions or ended up supporting someone who did...
