A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
"own a home for the price of renting"That has toxic loan written all over it
For anybody that doesn't follow dirtyscottsdale.com it's a blog about social happenings going on in scottdale. It usually focuses on what happens to the founders and how drunk, drugged, or sexed they can get.The 30k millionaire is what they call people that make 30k but try to show the image that they're a millionaire. Think fake rolex and a fake Louie Vuitton bag but to the extreme.As a person that used to live in AZ all I can say it that type of person is all over the place. For some reason people there like to party like they were in college and at the same time maintain a professional career. I eventually left because I couldn't stand all the idiot guys and gold digger girls.
As a loan broker for 30 years, there are 2 things unusual about the ad. The first is where it is. If it works cool. The 2nd is that it’s just a plain old Fannie, Freddy ad. The first post said toxic. There is a difference between skepticism and cynicism. If look at that ad and automatically say toxic, then you are just a cynic. Lately I try to have a rational political discussion and when I try to get beyond the most blatant generalizations, I get cut off with the “what’s the use, they are all liars”. In the blogs, I am seeing that about the industry. I am not rationalizing nor justifying a lot of crap heaped on the public by people in [more likely were in} my industry. When this little full doc, conforming loan amount ad that has no talk of neg. am nor teaser rates gets outrage then it’s pretty sad. All the stuff about no down is legal good stuff to help qualified; first timers get in a house. No liar loan stuff. on the page. We can argue about the right time to buy or if owning is better than renting all day. That is the choice of the buyer. In truth, I most likely agree more with the bloggers on this forum than not. It’s just not my mission in life to save people from buying what they want.
The typical Arizona bigshot - big hat but no cattle.
Doesn't surprise me at all. The Scottsdale attitude always has and always will be that renters are scum 2nd-class citizens and common criminals.In a nutshell, looking down on renters as losers is a way for the insecure ego-centric Scottsdale freakshows to play the superiority game, because they have no other reason to feel good about themselves. This ad will play on the extreme insecurity of Scottsdale clowns and will actually be effective as a result. Status is everything in Scottsdale and the insecure types that live there can't stand to say that they rent. To them it's actually worth eating ramen every night and living like a pauper just to say "I own."The irony is most of the 30k millionaires are option-arm, liar's loan, no-money-down "owners."
"Why rent when you can own for price of renting?"**For the first 2 years
What's funny is they look down on renters but they all rent (read: lease) their BMWs on much worse terms than a home rental. But what I find most laughable about Scottsdale is there's a thriving company there that actually rents out jewelry and accessories. So if you have a hot date you can rent a Rolex watch for the night to impress your golddigger date. You can now even rent BMWs, Mercedes, and other cars by the week for the same purpose.And yet they still have the nerve to look down on r.e. renters....
Aren't we all millionaires?Anyway, I'm sure the person in this article from msnbc.com would love to have a word about this.http://tinyurl.com/yswa55
"The Scottsdale attitude always has and always will be that renters are scum 2nd-class citizens and common criminals."--------------And this attitude is prevalent only in Scottsdale?You can see this in many other places as well.
"The Scottsdale attitude always has and always will be that renters are scum 2nd-class citizens and common criminals."--------------And this attitude is prevalent only in Scottsdale?Desperate homedebtors have this attitude for the most part, but trust me when I say that in Scottsdale it's way more intense and prevalent than anywhere else.I now live in Orange County, CA and here I haven't gotten any attitude because I rent. In Scottsdale, say "I rent" and people literally turn up their noses and turn around and walk away from you in mid-sentence. It's a joke.
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