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What are your thoughts on America's housing crisis?
YOUR SAYWhat are your thoughts on America's housing crisis?
Can President-elect Barack Obama change America, and the world?
"Yes he will because he is a natural leader and will surround himself with some great minds. Thoug..."
Can President-elect Barack Obama change America, and the world?
"It was a pity that Dateline chose some naive young Republican woman to comment on behalf of Repub..."
Would you like to make a comment about Dateline?
"Thank you Dateline for a great program but please is it possible for George to dress more appropr..."
America is a nation the business of which is business. The national interest is Wall Street $ interest. The very basis of Capitalism is endless consumption
I wonder taking into account the history of pre 9/11 bombing and gun related incidents if as a result of the housing financial crises that persons forced out of their homes to be homeless or living in cars ect. and working
There seems to be no end to this crisis. First we had an Asian economic crisis and now it has full-blown one in the US. Who should we blame? The 'greedy' or the US governments? What happen now? The ills of this mortgage crisis have seemed to spillover to the world!
Corporate greed has come full circle, for those that have been collecting houses as though trinkets, and living the high life. It's time for a dose of reality. For those that have been struggling, at least they have the resourcefulness to keep on struggling, my heart goes out to the 'battlers'. May we all learn a lesson from this doom and recession gloom we are currently experiencing, live within our means. No easy feat...
Go and buy a rental property in the USA now!! I expect a large fall in our housing market too, but not to the same degree. Then again, our house prices are now considered the most overvalued in the western world........
The tragedy of American people is unravelling evey day. The Congressmen had abandoned people who elected them. Speculators who gambled on subprimal mortgages had lost billions of effectivelly taxpayers money.Instead going to jail,get "rescued" leaving the bill for generations of Americans to pay. Greed is good in USA. Perpetrators get rewarded,people get to live under the bridges or in their cars.
British American sociologist Dr Os Guinness said in a lecture at UCLA in 1995 that the biggest problem facing capitalism was capitalism itself. The reason is because the capitalist idea undermines its own basis because of the expectation of science. Science has taken us from horse and cart to space shulltes in less than 150 years. America is now experiencing this undermining success of the modernistic concept of capitalism. This is not an American problem, it is a cpaitalism problem, and so it affect everyone. However the bigger problem in America is their cultural authority which was once based upon the biblical absolutes. Today it is built upon blind science.
There is an art to living in a car. You get to the point where you know the absolute necessities, and ever since then, I find the excessiveness of some suburban housing quite alarming. Divorce is enough to make you scrape the bottom of the barrel, but I will never forget that as bad as it gets, your fortune can change in an instant. For me, 60 cents has special significance, it was all I had after the cost of a hot shower, so I could put on my suit and try one more time. It becomes a question of what you value, and many people probably never have to really think about that.
I've been homeless,I have lived in my car. I've had a mortgage. I've rented. I've heard about the "great Australian dream" for the past 30 years or so.This "dream" is a device concocted by the housing industry and banks. It discourages people from renting by promoting rental as a very second class activity. The idea that all of us want to be wealthy landowners is where they start.Greed, in other words, our own greed. But, who gets wealthy when I pay a mortgage? Banks, Real Estate Agents, The State Government, Suppliers to the building industry, All of those tradesmen involved in building and repairing my house. There is a great deal of security in living in a house knowing that you wont be evicted at a moment's notice. The price you pay for that security should not take every cent you earn,but that's how it can turn out. The idea that people who don't want to own property are second class citizens is promoted by those with lots to gain. We need to look at another way. The acquisitive, grasping, desire for wealth and societal position is not the be all and end all. Paying a mortgage in pursuit of the "dream" may not be the way to a life of personal fulfillment for a lot of people. Stop and think a little harder and deeper about what you want.
I'm not in the US, nor have I ever been but I can honestly say that the AUSTRALIAN dream (or should I say GREAT Australian dream) is definitely fading. I know entering the property market is daunting for any couple or individual, but these days it just makes your stomach churn