Credit-worthy borrowers falling behind on payments

[Dan J 277]

I suggest reading this: http://en.wikipedia.org/wiki/United_States_housing_bubble

[Heracles 417]

yeap...can't pay the mortage..blame it on the illegals...

How about not being able to earn enough to pay for the mortgage?? Most employers would choose to pay an illegal immigrant $5 an hour rather than the going rate.

Who loses?? the employer surely does not.. I do not remember reading any clause in the constitution or deceleration of independence giving employers the right to screw over the American people through the use of cheap labour, at their gain..

brother infidel..you point is valid..and I have no agrument..but, allot of my clients thought their property would continued to rise quickly and did not forsee the issues they are facing today....

I agree with that as well. As well as people spending too much which has little to do with illegal immigrants.

The issue I have is that wages are being kept down by this constant supply of cheap labour. The normal cycle of supply and demand is being interrupted and saturated at the supply side.

Over the past few years the high end homes have continued to rise.

[Heracles 417]

Apparently now days, if you buy stuff you cant afford, you can blame it on illegal immigrants. Most of these credit worthy borrows are not likely working low skilled jobs. So if they are falling behind on payments, its likely their own damn fault for taking on a mortgage way beyond their means. It doesn't help that housing prices are way over inflated in many markets and banks are not as scrupulous about limiting a persons debt load.

It has a ripple effect. When one end of the market goes down it drags the rest down. This ripple effect is another reason why the rest of the world is steaming ahead while the US economy has stagnated.

[Dan J 277]

Apparently now days, if you buy stuff you cant afford, you can blame it on illegal immigrants. Most of these credit worthy borrows are not likely working low skilled jobs. So if they are falling behind on payments, its likely their own damn fault for taking on a mortgage way beyond their means. It doesn't help that housing prices are way over inflated in many markets and banks are not as scrupulous about limiting a persons debt load.

It has a ripple effect. When one end of the market goes down it drags the rest down. This ripple effect is another reason why the rest of the world is steaming ahead while the US economy has stagnated.

Thats not completely true. There are a lot more factors at play. You can have one part of the economy going down, but other parts growing or getting stronger. In fact you can have one part of the market go down, but in turn others parts grow.

More supply for workers in low skill job markets, doesn't necessarily increase the supply of workers for higher skilled jobs. Because a worker from a low skilled job, cant just go and become an engineer. The supply of capable workers is much more restricted and limited and a influx of low skilled workers wont change that.

[Donna A 4]

in my case i baught my home making top wage at delphi...yep 25% of my wages for the morgage but now delphi filed bankrupsy and wants to take half my wages. now im outside my means and cant afford the house payment on my own.

trust me...not a fault of mine or an illegal but my employer. of course they blame it on us saying we are making too much money and that forced them into bankruptsy. sorry but they were the ones giving out the money...how is that our fault.

its called NAFTA. lets move all our operations overseas...get big tax breaks to do it and then say our people here need to be competative to the ones overseas. they seam to forget it cost money to live in the united states and cheaper in the countries overseas.

oh well life goes on.