"Ron Ruff" <
[email protected]> wrote in message
news:f54daf10-229d-4a40-a4dc-09c5d227212c@m73g2000hsh.googlegroups.com...
On Jun 10, 11:04 pm, "Tom Kunich" <cyclintom@yahoo. com> wrote:
> > "Ron Ruff" <[email protected]> wrote in message
> > > And being foreclosed on at record rates!... not exactly "ownership" in
> > > any sense... and personal debt is far higher than ever in history.
> >
> > So your position is that it is bad to own your own home?
>
> My position is that the period of "high ownership" was due to insane
> and unregulated lending policy.
Then by all means supply some sort of documentation to back that up. I did
see some excesses but the homes in this area in which I've talked to
representatives didn't show "insane and unregulated lending policy" as the
reasons they were foreclosed on. In many cases people had gotten so fed up
with California politics they moved back east from whence they came in the
first place.
> The banks were not responsible for the money they lent, so
> they didn't care if the borrower could pay it back.
Look, if you've NEVER worked with lending institutions I suggest that you
simply don't repeat ignorant rants you've gotten from others who don't
understand what happened either.
> I can remember the days when you needed to put down 20%, and
> your payments could not exceed 30% of your gross.
By all means explain how that could possibly work in an area where a home
costs $600,000 for THE AVERAGE HOME.
> > > The low unemployment rates are due to the fact that there are no more
> > > unions and after your 6 months of unemployment benefits you are
> > > officially no longer unemployed.
> >
> > Wrong. You don't disappear from the roles until over a year. We actually
> > have had a long period of very low unemployment.
>
> "Benefits can be paid for a maximum of 26 weeks in most States."
> http://www.workforcesecurity.doleta.gov/unemploy/uifactsheet.asp
Why are you referencing that? That is NOT information pertaining to when you
are dropped from the unemployment rolls. That is merely the time that you
can NORMALLY draw unemployment. And in case you missed it - that is likely
to be extended very soon.