How Bad Can It Get?
http://www.nytimes.com/2009/03/11/us/11motel.html?_r=1&hp
It’s not often I take a break and put on my serious cap, but I read this and it just broke my heart.
This is the type of stuff that is really going on out there.
It’s one thing to not be able to buy as many drinks at the bar, or a shirt, or go on vacation…
All of which are luxuries.
But being forced to move your whole family into a motel?
No way to spin that positively at all…
So I’m going to use this moment to put aside the fact that I don’t have a job right now, and instead, be thankful that I still have a roof over my head and food on the table for the time being.
…Not to mention a lot of time and access to internet porn on my hands!
Logical
D.Smith
And This Is My America? 
While these stories are heart-wrenching, it’s important to note that the vast majority of mortgage holders are making payments and are not delinquent or in foreclosure.
A press release by the Mortgage Banks Association of America on March 5, 2009 stated that the combined percent of loans in foreclosure and at least one payment past due was 11.18 percent on a seasonally adjusted basis and 11.93 percent on a non-seasonally adjusted basis.
That means that 88% of mortgage holders are not delinquent or in foreclosure. No one disputes that times are hard, but to portray that large numbers of people being forced to live in motels as”what’s really going on out there” skews the real picture.
Good point, but lets not forget that everyone isn’t a mortgage holder. There are a lot of people right here in NYC, where I am, who are making ends meet in a dilapidated apartment on damn near indentured servant wages. But I hear ya, I just think too often the focus is on the “extras” we are losing as opposed to the necessities that a lot have already lost.
How does that number really cook, economicprosperity, when you take into account that the FBI has reported there was a 36% increase (from 46,717 claims to 63,713 claims) in mortgage fraud claims last year as compared to 2007? …perpetrated by both the homeowner/mortgage holder AND the industry employees who were seeking to hold on to the high standard of living they enjoyed during past real estate boom years?
Just enough greedy fucks screwed it up for the rest of us. Not all of us were living on credit, mortgaged to the eyeballs, leasing our underwear. Some of us were working decent jobs, happy to drive a 10 year old car and save for items special luxuries…. some of us were doing it the way you’re supposed to. But we all rely on each other – and when you have enough greedy fucks on the consumer and big business level – they just screw up shit for ALL of us.
Wow, I thought that with the election of the mulatto messiah all of these problem would be fixed. That stimulus worked great, huh.
you thought all of the countries’ problems would be fixed in about 6 months? your a jerk off