Subprime mortgages are back

They don't care,when it all falls apart our tax money will take care of them.

 

just like last time......smh

 

Heard a few months back that many folks finding it hard to qualify. First sign of overheated Market. Now subprime as the answer to high prices only drive prices higher as people fear getting priced out of market. CRASH!!! Hard to believe seems like only yesterday.

 

I wonder when we will reach the point the only thing left to do will either be have a period of deep recession, worse than we've ever seen, or destroy the currency via hyper inflation from too much money printing in an attempt to keep the markets afloat. Any way you cut it this can't end well.

 

Actually much more better.

 

Fixed that for ya!!!
Seriously, the Fannie Mae and Freddy Mac debacle from the first subprime mortgaging mess should’ve been a wake up call. But as the saying goes: “Those who fail to learn from the past are doomed to repeat it”..

Stuff like this affects more than mortgage loans. Car loans,business loans or any loans associated with a bank/lenders and customers are affected.

 

Best to not get caught buried in debt ( slavery) or as they say Over- Leveraged. Dangerous game to play. Ok as long as you know the risks,but once you get past a certain point there’s no getting out. Been there 10 yrs ago luckily I was young enough to recover. Some not so lucky. Very sad to see hard working people lose it all while others cash in. Our monetary system is a debt system from the very beginning a dollar is printed. Necessary evil I suppose.Keeps everyone at the Grindstone too busy to realize what’s going on till it’s too late. I was like a hooked fish allowed to run till I started to tire then slowly reeled in. Never again. My fault for taking the bait in first place.Now is a good time to get prepared for a downturn. It always happens. Hopefully not for a while. The more prepared the better.I tried to pay attention in late 70s early 80s . Same thing different reasons back then. If I had cash saved 10 yrs ago could have gotten rich off buying foreclosures.Hindsights 20/20