tag:blogger.com,1999:blog-14963913.post5732942172649783186..comments2023-10-27T20:27:57.900-04:00Comments on Kid Dynamite's World: Remember Back When This Was a Lot of Money?Kid Dynamitehttp://www.blogger.com/profile/17475987512856310577noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-14963913.post-19633632585403712232009-02-19T14:00:00.000-05:002009-02-19T14:00:00.000-05:00I believe it was Alexander Hamilton who said, "The...I believe it was Alexander Hamilton who said, "The masses are asses." <BR/><BR/>Prudent people should not have to pay for excessive living. As someone who is still driving a 1982 model year car, I resent having to subsidize anyone who cannot live within his/her means. Sure I could have taken out an equity loan on my mortgage to buy a new car but a car is just transportation, not a status symbol. Similarly, my kitchen is not updated but we still can turn out delicious meals.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14963913.post-37385871036440400972009-02-18T14:48:00.000-05:002009-02-18T14:48:00.000-05:00Prudent people should not be held liable for the g...<I>Prudent people should not be held liable for the greed and poor decision making of the masses. There is an old saying, "If you owe the bank $10,000 you have a problem. If you owe the bank $1mm, the bank has a problem." I'm all for people trying to renegotiate their mortgages with their banks - that is a BUSINESS decision for the banks - but I'm adamant that the government should not be involved. </I><BR/>Couldn't agree more with that statement. Makes me feel like I am a fool for paying my mortgage.<BR/><BR/>I would assume you got a kick out of the story in the WSJ about the Florida court. Judge makes a decision by asking two questions. You behind on the mortgage? Are you still living there? They do not tolerate people that are not paying for these houses. They don't take the woe is me attitude. They view it as people living rent free at the expense of others. They notice part of the problem is the banks need to be able to get these mortgages off their books and the properties into the hands of those that can afford them.StBhttps://www.blogger.com/profile/01363699522256218332noreply@blogger.comtag:blogger.com,1999:blog-14963913.post-50646213843126393432009-02-18T09:04:00.000-05:002009-02-18T09:04:00.000-05:00Damn straight...I bought last year in the UK (Feb)...Damn straight...<BR/><BR/>I bought last year in the UK (Feb) and managed to negotiate enough on the day of exchange that I haven't been too badly hit.<BR/><BR/>That aside I only bought because I could afford a flat which had two spare rooms and I was able to get a tracker mortgage that started at a rate the two room rents more than covered. At the moment I'm sitting pretty.<BR/><BR/>The annoying aspect of my life is that my twin and her husband bought at the same time. Refused to go on a tracker because they thought that interest rates were going to keep going up (yes some of my gene pool is that dumb) and are still paying what they originally budgeted for. Now this is all fine - they can afford it... what is annoying is that one of them faces redundancy and instead of renting out their spare room until they have kids (apparently it's not what being married is about ffs) they have had the audacity to ask me to "help" if one of them needs to change jobs and work in London (they're in Brighton).<BR/><BR/>This would mean not charging them rent and kicking one of my $1200 / month tenants out. "But you're on a tracker - you can afford it"<BR/><BR/>For some reason the notion of them paying a market rate is beyond them as it's "unfair for me to charge family" is it not "unfair" for them to cost be $1200 / month!<BR/><BR/>Some people believe that high consumerism is a right... alas our Governments are backing these morons. I'm not advocating a Friedmanesque Southern Cone experiment.. but it sure would be fun<BR/><BR/>Sorry for the rant<BR/>Great Blog<BR/><BR/>JamesAnonymousnoreply@blogger.com