B
bush l
Guest
...discussing? If the mortgage lenders had to lower their standards to make more mortgage loans to americans, has anyone done a study to determine where the credit worthiness of americans stands today in 2008 compared to say 10 years ago in 1998?
in other words, is it possible that the fact that so many subprime loans had to be made was simply partly an adjustment by bankers and mortgage lenders to a new reality ...that americans as a society had become less credit worthy to buy homes...and their credit had gotten worse as a society..that they had less savings to put down on a home, and they carried much more credit card debt...that perhaps more americans were struggling to keep their heads above water with stagnant wages....and exceedingly high housing prices than say back in 1998?
hmmmm...so no one believes that there has been a decline in the credit worthiness of americans?
thats funny, because as a mortgage loan offices for 15 years, I sure did. I noticed that as time went on that people's credit worthiness was declining...that you had to talk to more and more people to find someone that was "well qualified".
I have noticed something about many americans, that there is a reluctance to admit that this country is not perfect that its not the idealistic paradise that we are brainwashed to believe it is..like that we can't do anywrong...that there is no poverty...that its still the land of milk of honey that it was once. Its really amazing. It sometimes feel like a slow strangulation of a country while everyone goes around happy go lucky buying their Ipods, and big screen TVs and watching their american idol.
in other words, is it possible that the fact that so many subprime loans had to be made was simply partly an adjustment by bankers and mortgage lenders to a new reality ...that americans as a society had become less credit worthy to buy homes...and their credit had gotten worse as a society..that they had less savings to put down on a home, and they carried much more credit card debt...that perhaps more americans were struggling to keep their heads above water with stagnant wages....and exceedingly high housing prices than say back in 1998?
hmmmm...so no one believes that there has been a decline in the credit worthiness of americans?
thats funny, because as a mortgage loan offices for 15 years, I sure did. I noticed that as time went on that people's credit worthiness was declining...that you had to talk to more and more people to find someone that was "well qualified".
I have noticed something about many americans, that there is a reluctance to admit that this country is not perfect that its not the idealistic paradise that we are brainwashed to believe it is..like that we can't do anywrong...that there is no poverty...that its still the land of milk of honey that it was once. Its really amazing. It sometimes feel like a slow strangulation of a country while everyone goes around happy go lucky buying their Ipods, and big screen TVs and watching their american idol.