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Home-Debtorship -- The New American Nightmare
blownmortgage.com — It ’s time to take back the American Dream. The American Dream has been hijacked by too many people in the name of self-interest. It's time to separate home ownership from the American Dream. More precisely, it's time to separate home-'debtorship' from the American Dream.
unlawflcombatnt- 19 diggs
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- roosevans, on 05/14/2008, -0/+4Dreams are the precursor of reality. This blog post is a very good assessment of what the American Dream truly is and is not. Consumerism has perverted the American Dream. Excessive debt is the downfall of the American and even the global economy today. The American citizen and nation will have to return to the virtues of living within our means, saving for the future and paying cash or significant down payments for the things we purchase. That's want leads to fulfilling the American Dream, in my opinion.
- unlawflcombatnt, on 05/14/2008, -0/+4Much of the wealth produced over the last 10 years has been artificial wealth--the result of asset value hyper-appreciation, not tangible wealth production. A California home worth $200K in 1997 does not have a real value of $700K in 2006. The price is just hyper-inflated by increased demand created by the increased borrowing power of buyers thanks to financial "innovations", such as securitization of loans and no requirement for down payment or proof of income.
- chrisshouse, on 05/14/2008, -0/+1Do you think it could be that the American people are being set up to take a fall that we can not come back from without fighting a real revolution to gain control again?
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