Speaker- I respect the hell out of you!!!
This is a post I had in another thread that I think works well here:
That is why I get so ticked off when I read or hear about the "subprime" disaster, "subprime" is a label plain and simple it's an easy way to
blame this "mess" on those dirty, bad credit, stupid, poor "subprimers". Our real estate woes are not because of the subprime market, EVERY market
is experiencing these problems and why? because the cost of living has way, way outpaced the wages middle America earns.
I shop the local Walmart every now and then and I have noticed a massive increase on staples, a loaf of bread that was $1.00 last year is now $1.29 ,
milk $3.49 last year over $4.00 this year now .29
isnt a big deal but it is a drastic inflation percentage and when everything you buy goes up that much it is no wonder our pockets are empty and our
mortgages are late.
Scary thing is most Americans do not see this because it is nickel and dimes and they don't notice and they can't understand why they are broke
every month.
Thread is about hurting the pocketbooks instead of bloodshed:
www.abovetopsecret.com...
The middle class is hurting, I am middle class on the verge of poverty.
But I have to ask a couple of questions, if only 2% of the population makes over $125,000 who the hell is buying up all of these $600,000++++++ homes
down here in Georgia. These homes do not seem to be affected by the whole "sub prime mess" They are selling like hotcakes and the builders just keep
on putting up 200+ home subdivisions, how could anyone afford that kind of mortgage making less than $125,000? Just guessing here but if someone buys
a $600,000 home they will have some very hefty car payments as well (gotta have the very best right?) kids in private schools, name brand everything,
where is the $$$ coming from? The mortgage alone would $4000+ a month and this is in the suburbs of Atlanta, I cant imagine places like Miami, L.A.,
New York, Maryland etc.