I guess Bank of America is going to be begging for a taxpayer funded bailout after they give all these mortgages to people who can't afford to pay...

[Harpy Eagle]

My TRUE, personal anecdotal evidence is far more than you have presented with your baseless attacks. ^^^^

This is the internet, your personal anecdotal evidence is meaningless.

 

[Ray From Cleveland]

NYS Governor Hochol is working on bringing the slums into the suburbs.

That's the idea and with help from the federal government.

 

[Indeependent]

This is the internet, your personal anecdotal evidence is meaningless.

Look up the definition of anecdote.

 

[Ray From Cleveland]

I never really considered that aspect, but you do have a point there.

Between illegals, wind farms, solar panel farms, the Democrats are going to eat up all the land we have. Supply and demand, which always controls prices.

 

[Harpy Eagle]

Look up the definition of anecdote.

 

[Indeependent]

That's the idea and with help from the federal government.

View attachment 692513

You omitted the part of the definition that states when an anecdote becomes a fact.
The bottom threshold is 1,000 anecdotes.
For instance, the H1-B was an anecdote until 3 million people lost their careers and Trump brought it to the voters attention.
Not that I expect you to be perfectly honest at any given moment being you are a self-admitted selfish Libertarian.

 

[Concerned American]

This is the internet, your personal anecdotal evidence is meaningless.

As are your meaningless posts that present nothing of value--like your entire useless life.

 

[Ray From Cleveland]

The bald fact is that they're already doing that. That's what rent and utility payments are.

As a former bank manager and mortgage specialist, I like this idea. They're loaning to people with good income, and a good payment history. What the borrowers don't have is savings and equity. They're loaning on income and character, not collateral. Most mortgage lending is based on collateral first, then income and character. the emphasis is important.

The greater concern here is employment stability. In a recession, hour rated low wage workers would be the first to be let go. Low wage workers are the first to be let go, the last to be hired back, and the ones to receive the least amount of public money to keep them going.

They also have little in the way of savings to fall back on, so any illness, unexpected addition to the family (now that abortion is a less likely option), or plant closure leaves them vulnerable. I would expect higher losses than for those with higher down payments, but only because these people have more resources available to them to get them through, but I don't expect the gloom and doom you're forecasting, given that they're working with borrowers of high character and stable employment.

The problem is that housing costs are not reliable like rent and utilities. Sure, they may go up or down a few bucks, but what happens when property taxes increase, or a hot water tank goes, or your roof starts leaking? Those could be some major costs these people won't be able to afford. So they will prioritize those necessities over making mortgage payments.

What you're really talking about here are loans to people that are living paycheck to paycheck. Last surveyed, over 2/3 of Americans are living paycheck to paycheck and don't have $500.00 for emergency use.

 

[Harpy Eagle]

You omitted the part of the definition that states when an anecdote becomes a fact.
The bottom threshold is 1,000 anecdotes.
For instance, the H1-B was an anecdote until 3 million people lost their careers and Trump brought it to the voters attention.
Not that I expect you to be perfectly honest at any given moment being you are a self-admitted selfish Libertarian.

No, I did a snip of the whole thing

Funny that you lie about me and then whine about honesty.

 

[Concerned American]

You omitted the part of the definition that states when an anecdote becomes a fact.
The bottom threshold is 1,000 anecdotes.
For instance, the H1-B was an anecdote until 3 million people lost their careers and Trump brought it to the voters attention.
Not that I expect you to be perfectly honest at any given moment being you are a self-admitted selfish Libertarian.

He claims to be a libertarian, but like everything he posts, that is a lie. He's a fucking closet democrat--too ashamed to admit it.

 

[Indeependent]

No, I did a snip of the whole thing

Funny that you lie about me and then whine about honesty.

Too bad everyone here knows what a bullshit artist you are.

 

[Harpy Eagle]

As are your meaningless posts that present nothing of value--like your entire useless life.

Such anger, I must have really touched a nerve.

 

[Harpy Eagle]

Too bad everyone here knows what a bullshit artist you are.

I am the only one in this discussion that has provided evidence of his claims in the past.

You and your boy friend do nothing but talk, and talk, and talk. You never support a single claim you make

 

[Indeependent]

I am the only one in this discussion that has provided evidence of his claims in the past.

You and your boy friend do nothing but talk, and talk, and talk. You never support a single claim you make

You provide statistics and we all know what Mark Twain says about statistics.
If statistics reflected facts, no business would ever fail.

 

[Harpy Eagle]

You provide statistics and we all know what Mark Twain says about statistics.
If statistics reflected facts, no business would ever fail.

and yet it is still more than you have ever done. All you have are your empty words about other people doing things

 

[Dragonlady]

Some people lost. That's what happens when bubbles burst.
Banks lost too. Just awful.

Banks lost too????? What did they do with the billions they made BEFORE that bubble burst, Todd???? The banks and Wall Street made millions, and used their bailout money to pay bonuses to the guys who made all of those bad mortgage deals.

 

[Concerned American]

Such anger, I must have really touched a nerve.

Don't flatter yourself. It takes someone with a lot more brains than you have to touch anything in me. I find it amusing to discover how much more ignorant you are with each passing encounter.

 

[Dragonlady]

You provide statistics and we all know what Mark Twain says about statistics.
If statistics reflected facts, no business would ever fail.

Great attempt at moving the goal posts, FuckBoi, but you could have just said that you have no understanding of economics or finances, and the stats are meaningless to you. We wouldn't mock you for acknowledging your shortcomings, but attempting to deflect and lie about them isn't going to get you far.

 

[Indeependent]

and yet it is still more than you have ever done. All you have are your empty words about other people doing things

Did you see the part where an anecdote is true?

 

[Concerned American]

I am the only one in this discussion that has provided evidence of his claims in the past.

Where, liar? You haven't produced one piece of evidence of anything in this thread.