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

To: michael97123 who wrote (406388)	8/14/2008 11:29:24 AM
From: i-node	Read Replies (3) \| Respond to of 1574605

I think folks overstate the importance of foreclosures as it affects the economy. I dont want to appear heartless but here are my reasons. All good points. These little real estate busts have to happen every 15 or 20 years. Has nothing to do with the economy (although it is politically popular to use it as though it does). It is just a cycle that happens now and again. As you suggest, it is a process where the positions of overly aggressive lenders and borrowers are corrected. In many, if not most, cases, people are not abandoning the homes because they can't make the payment. They're leaving it because they don't want to spend the next 30 years paying for a property that is worth less than they owe on it.