U.S. home equity recedes to WWII levels

[second stage 14]

http://www.msnbc.msn.com/id/24988315/

The equity Americans have in their most important asset — their homes — has dropped to its lowest level since the end of World War II. unbelievable?....Lenders have screwed us so well that our equity falls back to WW II levels !!!

[Dan J 277]

http://www.msnbc.msn.com/id/24988315/

The equity Americans have in their most important asset — their homes — has dropped to its lowest level since the end of World War II. unbelievable?....Lenders have screwed us so well that our equity falls back to WW II levels !!!

Its not Lenders. A lot of it has to do with people making poor financial decisions. Although the checks of the mortgage/investment market pushed aside for quick profits.

[aidan80 9]

http://www.msnbc.msn.com/id/24988315/

The equity Americans have in their most important asset — their homes — has dropped to its lowest level since the end of World War II. unbelievable?....Lenders have screwed us so well that our equity falls back to WW II levels !!!

Its not Lenders. A lot of it has to do with people making poor financial decisions. Although the checks of the mortgage/investment market pushed aside for quick profits.

I think "poor" and "financial decisions" remind me of when George Bush tried to run a company.. and he did.. right into the ground! Hello recession, thanks George!

[amiquechu 0]

An American in a bad financial situation shouldn't be looking at anyone but themselves. What good is it going to do to blame someone else? They're not going to help you. You pick yourself back up and take advantage of one of the millions of opportunities available in this country. With all the opportunities available in the US, nearly every person has a chance to succeed and become rich, or at least live comfortably. If there's at least one person in this country who's gone from rags to riches (trust me, there are PLENTY who have), then anyone can do it.

A wise man I met says to just about anyone, rich or poor, "You are where you're at financially because that's exactly where you deserve to be."

[Dan J 277]

An American in a bad financial situation shouldn't be looking at anyone but themselves. What good is it going to do to blame someone else? They're not going to help you. You pick yourself back up and take advantage of one of the millions of opportunities available in this country. With all the opportunities available in the US, nearly every person has a chance to succeed and become rich, or at least live comfortably. If there's at least one person in this country who's gone from rags to riches (trust me, there are PLENTY who have), then anyone can do it.

A wise man I met says to just about anyone, rich or poor, "You are where you're at financially because that's exactly where you deserve to be."

Its not as simple as that. Succeeding usually requires taking a risk (generally a finacial one) If you got nothing to risk, your opportunities are greatly reduced. Even if you take a risk, its more likely to fail than succeed. Nor is it even possible for an economy to support success for everyone.

The current financial troubles our country is experiencing, is not really related to that. While there was some fraud, in all parts of the market. Most of it was people buying on easy credit, houses they really couldn't afford. There most responsible party would be the borrower, for making a financial decision. This is compounded by lack of information sources that are not in some way vested in real estate transactions. Relaxed or not enforced credit rules made possible loans that would have never been made under more normal conditions.

All of this is really driven by the myth that owning a house is the path to wealth and a part of the American Dream.