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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: SBerglowe who wrote (2807)6/19/2002 9:51:37 AM
From: TradeliteRead Replies (3) of 306849
 
SBerglowe....while some people seem to get a real kick out of criticizing the real estate profession for being greedy, crooked, corrupt, and in the same boat with used car dealers, isn't the real problem the lenders who offer every incentive except a kitchen sink to keep the loans originating at any cost, and the buyers who fall for this?

There was a story mentioning this lender phenomenon in the WSJ yesterday. I look forward to a little more media coverage about the need for buyers to understand what they're doing with their money, but am not holding my breath.

Today's WSJ contains another one of those stories cropping up everywhere about how to borrow against your house if you need cash. Sheesh....this thought used to be anathema to most people, but now it's considered normal and recommended.

If every buyer went into the buying process with a little more education about mortgages, debt, and market risk, they wouldn't become easy victims.

Investors who lost big in the tech wreck criticize Wall Street and brokers for losing their money, when they shouldn't have been so stupid about investing in the first place. Homebuyers will rant and rave the same way about real estate agents (as if agents have any control over prices and loans!) if they lose money. Dumb. They oughta go buy a few books and read them.
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