Bankruptcies, divorces, fights, job loss, jail sentences, homelessness, ...
Yes, thanks to Greenspan's folly, lots of bad things are coming. But the saddest one is the most obvious - people are going to start killing themselves folks. Lives are being ruined as we speak. Another reason why I say the housing bubble was evil. Pure evil.
Anyone reading this today who screwed up, bought a home at the peak, took out a toxic loan, quit their job to go to realtor school, or decided condo flipping was easy money, my only advice is realize your mistake, take ownership for it, quickly do whatever it is you know you need to do (file bankruptcy, do a short sale, admit to your spouse you lost everything) and move on now. Deal with the problem now, before it gets worse.
Money is just a silly little thing that doesn't matter much in the end. So move on. A few years from now you'll look back on it and just laugh and laugh and laugh at how stupid the whole thing was, and you will have learned from it.
Any HP'er who knows someone who's screwed royally, reach out a helping hand, and make sure they know it's just money - and if it's US$, it'll be worthless anyway, so no harm no foul.
This is a serious issue, deadly serious. We have a grand time here debating the bubble, but there's real pain and misery out there in America today, and it's just going to get worse.
I just want the madness to be over so we can get back to normal - when houses were affordable, rational, safe investments, not get rich quick schemes, and simply places where people and families lived.
Peace out.
33 comments:
At almost 7 Billion - who gives a rip if several hundreds of thousands of useless eaters end it all with a bullet.
Not me.
You beat me to it richard, With 300 million americans and counting, if somebody wants to end it, so be it.
"You beat me to it richard, "
In fact we are due for 80-90% die off of the world population...we past this earth's carrying capacity about 4 Billion ago.
Who's gonna care when everyone you know is dead...not me...not Keith....not FEMA or the Red Cross...NO ONE WILL CARE.
Puker up ladies and gents....
NEWSFLASH...Your mom and dad and their moms and dads screwed you into existance because cheap oil (i.e. food) was available.
There is no god to save you or this gluttonous world. The truth sucks...eh?
Of what use are you Richard?
This is a serious inquiry.What do you
think you contribute that you can
frivolously toss off a callous statement. What is your definition
of contribution to life?
PKK
Keith said:
"...there's real pain and misery out there in America today."
There's real pain and misery out there in the rest of the world, too. Believe it or not, "America" (US, actually, is what we're really talking about here) is not immune.
As is true of every country, the "United States" is, in reality, only a concept within imaginary lines. We are all living on this planet, without lines and divisions, as seen through the eyes of Infinite Wisdom and Love, who created us all and loves us all equally.
What do you do, comb the web for bad news and then try like hell to figure out how to tie it to the housing bubble?
If you get good at this, you can work for FoxNews tying all of today's troubles to Bill Clinton.
The "Americanized" version of Christmas we celebrate this time of year represents the hollow values of American society today and the ridiculous mindset that led us to the houing bubble we currently find ourselves in. "I need it now! HELOC it, charge it, steal it. Consequences be damned." I agree it is sad the pain many find themselves confronted with but to every action there is a reaction. Ultimaltely they only have themseves to blame. No one put a gun to their head and told them to run up their debt. It is my hope that 2007 begins a change in the mindset of Americans to more responsible thinking and not needing all these material things to make themselves "happy".
Anyone who has bad feelings that aren't going away can find an affordable counselor at therapists.psychologytoday.com
It's never too late to get help
Double suicide. Don't do it.
Richard:
You epitomize the glut of useless mouth-breathers on the planet.
Why not set an example, blow job a shotgun barrel and pull the trigger.
The world will be a better place.
suzanne researched it said:
"...to every action there is a reaction. Ultimaltely they only have themseves to blame."
...................................
I agree. We all create our own heaven or hell by the thoughts we think and the actions that result from those thoughts, whether they be thoughts of good will and peace or thoughts of selfishness, envy, anger and hate.
It's time for the "American Nightmare" of avarice and greed to come to an end. We can all certainly do much better than this.
Hmmmm let's look at those pesky things we call statistics. I know they are to be ignored at all costs in this discussion in favor of gut feelngs and anectodes from cousing Bill who knows a guy who knows someone who killed himself over a bad mortgage deal....but looking at numbers you see there is no correlation whatsoever between suicide and bankruptcy filings in the United States. If anything it shows a reverse correlation, ie the more bankruptices the fewer suicides.
Number of consumer filings in US:
1975: 224,000
1980: 287,000
1985: 341,000
1990: 718,000
1995: 874,000
Filings as a % of the population
1975: .103%
1980: .126%
1985: .143%
1990: .288%
1995: .333%
Number of suicides per 100,000
1975: 12.7
1980: 11.8
1985: 12.3
1990: 12.4
1995: 11.9
So in 1995 there were 300% more banrupticues per capita than in 1975 yet the suicide rate was 7% lower. Bankruptcy filings have increased steadily since 1975 yet the suicide rate has decreased steadily.
IE THERE IS NO CORRELATION BETWEEN SUICIDE AND BANKRUPTCY FILING
Next topic please....
I wouldn't invest in any suicide relate industries just yet boyz and girlz
Most people who survive suicide attempts admit that trying to kill themselves was a mistake. When people are depressed, they tend to not think rationally. Therefore, depressed persons should seek help.
Suicide is never an acceptable option. As long as someone is alive, there is always a chance that their situation can improve.
Keith, Really good advice for all the FB’s out there. I truly believe that you have transcended to the next level in life. I would bet that you have ditched materialism or possibly never were materialistic. You place the highest value on simple items like your laptop or some antique. There is a reason in the universe that you do what you do here at HP. Keep up the good work…
Suicide rate skyrockets!
Where i come from it's called thinning of the herd!
Has anybody here ever read Dante’s “Inferno” (or is it “The Divine Comedy?”), in which one level of hell is reserved for those who commit suicide?
Those who commit suicide may find that their problems are just beginning, not ending…
BTW, at the very lowest level of hell you will fine none other than Mohammed.
Am Fence Sitter you just made my day. Thanks for the good word.
Yes, I reject nouns. I like verbs. I still like some physical things, like my ipod, but really thats for a verb - listening to my music. I also like safety and comfort, but those can be had for reasonable prices. I like making money but that's so I won't have to work for money soon.
Life is about experiences and relationships, not about Pottery Barn, big houses and cheap crap from China.
Too bad most folks don't see that in today's debt-ridden, keep up with the Jones's, consumerism run out of control shallow society.
To each his own.
Well Said Keith! In some regard HP has evolved into a forum for those (most regular readers) in search of security beyond McMansions, Hummers and Big Screens. I agree with everything you said and live my life in the same manner, placing value on those things that truly matter.
Oops; Left out Fence
Keith,
How about if I can afford to but all the Pottery Barn crap, my big fat 8 MPG SUV all without going into debt, is that OK?
Is it the Pottery Barn/Hummer that bothers you, or going into debt for the Pottery Barn/Hummer?
My prized possession: A hundred year old wood telephone, worth maybe 300 bucks. I also like my laptop. Like Keith said; to each their own. I believe this issue is mostly about the poser mentality ruining their financial future in exchange for must have material items.
I might sound heartless and cold, but I say good for them. Let them kill themselves.
If they can't take a little hard times, then they don't deserve to live. Let them die off, so their assets can be taken by someone who gives a damn.
Most of the weaklings are useless middle class, middle managers who never provided value to society, never achieved anything, and deserve to die.
They only realise the truth at those last moments, and then they make room on earth for a more deserving person.
Richard,
You’re funny, but weird.
Why should anybody listen to you?
You folks that say "let them kill themselves" should go back to sleep.
I agree with am fence sitter. It's discusting that our real estate industry has turned into the biggest ponzi scheme ever.
Keith, you are doing a great job! Keep it up!
Hopefully, more people will become informed by those like you and crash this ponzi scheme.
The interesting thing is that we are watching this crash happening before our eyes.
check it out -
www.dieoff.org
Guys, everyone who attempts suicide isn't Jimmy Stewart of "It's a Wonderful Life". Yes, that was a situation of an outstanding individual who fell upon difficult days. And by all means, any of Jimmy Stewart's characters should never kill themselves because they embody everything good and decent about human beings.
A greater percent are selfish and leaching upon their friends and family with "suicide attempts" and pleas of not being responsible for their actions like borrowing money from a shark, marrying the wrong person, or getting on the wrong side of the tracks. These people, unfortunately, aren't sincere in their guilt and willingness to commit suicide but instead, want to put the burden of their responsibilities upon others.
The future is in buying caskets! The next housing bubble! Everyone will need one and if you don't buy now, prices will go up!
I authored the following on patrick.net a few months ago. That March that I had that intuitive impression nobody (except a few pundits and the aware viewers/posters on this blog and a few others)was even talking about this train wreck.
I really hope that anyone feeling the pain will not get down on themselves and will regroup and go on.
http://patrick.net/wp/?p=296
"As I sat in the Costco food court, sipping a coke, a visual image along with a feeling came into my mind. I saw my wife and I at some future date having a despaired discussion. A feeling of hopelessness hung like a pall over the scene. We were cleaned out and unable to make a house payment. The money we had put down was gone and we had nothing. The American dream had become a noose around our necks. I sensed that this was at least a nationwide thing and that there was pain everywhere. I sensed the tragedy of murder suicides occurring in some instances as families lost everything.
This was back in March of 2006."
Chauncy said... "IE THERE IS NO CORRELATION BETWEEN SUICIDE AND BANKRUPTCY FILING"
I have completed college level statistics, and you'll have to do better than that. Even if you had made the case for a statistically significant inverse correlation, that would say nothing about the correlation in INDIVIDUAL situations.
"Richard,
You’re funny, but weird.
Why should anybody listen to you? "
you think I give a rip if anyone listens to me?
the truth will not change.
your choice.
just trying to get the facts out there.
All suffering comes from thinking of things in terms of "I" or "mine". To end suffering - cling absolutely to nothing in this life.
You are correct Stardust. "Desire is the root of all suffering." We never really ever own anything in this world, we only borrow it.
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