Not much different than big investment banks who, after trumpeting free markets, cry out for a government bailout when faced with bankruptcy due to their own stupid investments.
I've heard a couple of programs on this before. The basic idea is - the corporation doesn't give a shit about the customer and will drop you in a heartbeat if they consider it profitable. Why should the customer not behave the same way toward the corporation?
SOme of the counter arguments to this ive seen are that you made a promise to pay them back, and its a question of honor and integrity.
My response is, I didn't promise someone to pay the money back, I promised to let them take the house and ruin my credit rating if i didn't pay it back. Additionally, I didn't promise someone, a was part of a business equation with a faceless corporation that does its best to nickel and dime me to death. Fuck em.
Not to mention that Bear Stearns was the only investment firm that refused to contribute to a fund intended to help investment firms a couple years ago.
I found the part on the formation of a private version of the stock market particularly interesting, and think that ought to deserve a similar discussion of its own.
Well, that's obviously the downside. But still, many people are saying - all right, I take a hit on my credit report, but I save hundreds of dollars every month by going back to renting. Credit scores can be rebuilt slowly over time, but money goes away and doesn't come back.
Well, as long as they know what they do. It is also nice that there are companies helping them find a place to rent. This won't work if many enough people do it, of course. In that case, there will be pressure on the rent market and the prices will skyrocket there, whereas the lack of demand in the ownerships market will further send those prices down. But if only a few people drop their houses, they will benefit from it.
When you can't get a raise because of ill health, face raising medical bills and your mortgage is going up $300 next month and you have over $1,000 due in back homeowner's association fees because the insurance prices have gone up so much over the past two years, that idea sounds almost good.
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(no subject)
Date: 2008-03-26 08:27 pm (UTC)(no subject)
Date: 2008-03-26 08:50 pm (UTC)(no subject)
Date: 2008-03-26 09:46 pm (UTC)(no subject)
Date: 2008-03-26 10:13 pm (UTC)(no subject)
Date: 2008-03-27 08:29 pm (UTC)We have a winner!!
SOme of the counter arguments to this ive seen are that you made a promise to pay them back, and its a question of honor and integrity.
My response is, I didn't promise someone to pay the money back, I promised to let them take the house and ruin my credit rating if i didn't pay it back. Additionally, I didn't promise someone, a was part of a business equation with a faceless corporation that does its best to nickel and dime me to death. Fuck em.
(no subject)
Date: 2008-03-27 06:16 am (UTC)(no subject)
Date: 2008-03-26 09:54 pm (UTC)I found the part on the formation of a private version of the stock market particularly interesting, and think that ought to deserve a similar discussion of its own.
(no subject)
Date: 2008-03-27 10:27 am (UTC)(no subject)
Date: 2008-03-28 03:24 am (UTC)(no subject)
Date: 2008-03-28 07:51 am (UTC)(no subject)
Date: 2008-03-27 01:18 pm (UTC)