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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (367931)	1/22/2008 11:56:01 PM
From: tejek	Read Replies (1) \| Respond to of 1578015

So people who lied about their income on their applications and now can't pay back their debts should be let of the hook because of the chance that they just might turn to crime if they struggle with their mortgage payment? Tim, did it ever cross your mind that maybe poor people want to participate in the American dream just like the rest of us? I don't condone lying on a mortgage application but it certainly wouldn't be the first time and there were many who didn't lie but were sold a bill of goods. A new report estimates that 44.5 million U.S. households will see property values decline a combined $223 billion because of the wave of foreclosures. The prices where inflated partially because people got loans for to much. That's BS......the prices were inflated because certain markets had too many speculators participating. This decline is a correction to those inflated prices. Maybe it overshoots on the way down, just like it overshot on the way up, but we don't want to try to preserver the old over inflated prices. In 5-10 years, those prices will seem cheap assuming we don't experience a Bush depression in the interim.