Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: i-node who wrote (406394)	8/14/2008 11:34:03 AM
From: michael97123	Respond to of 1574679

"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. " and when they quit the property they all of a sudden have more money in their wallet and that spurs the economy not hinders it. I have a nephew whose wife was just laid off who might face this problem shortly. He bought at the top for all the right reasons---was not a flipper or speculator. With two large incomes the mortgage payment was makeable. Lose the one salary and you have to deal with the consequences even if your intentions were pure. They also had 50k on the house thats gone in terms of equity if they had to sell.

To: i-node who wrote (406394)	8/14/2008 1:09:50 PM
From: HPilot	Respond to of 1574679

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. Not that many in that boat except some premium areas in California. Prices have hardly come down here.