I dont really get the metaphor but lets go back to the real world, people cant fend for themselves, horrible spending habits.. how else do you explain increasing foreclosure rates other than that people dont know what theyre getting into?
The foreclosure rates, well I really do think that was people overextending their reach. A LOT of people got those stupid ARM loans and now cant even rent their homes close enough to break even, yet alone make any money. A lot of people cant even rent them. The lucky ones are bleeding a few hundred a month. The ARM loans were cool if you were going to be out of there in under 2yrs, but too many people wernt informed well enough about that, or were just plain stupid.
Its horrible out here in Phx, the foreclosures are popping up everywere. A lot of apartments converted into condos and those that were late are still for sale, home builders that got their loans too late are now stuck building even though there isnt anyone to buy, ect. Hell countrywide had to take up an $11.5 billion loan so they dont go under.
Whatever, Ill look at is as everything is on sale and buy myself another house when things start to really go south. Im sure we've only seen the tip of the iceberg as far as foreclosures are concerned.
As for some peoples spending habits, I dont know why people live beyond their means but thats their problem.
well if you have enough savings to venture into business or have a diverse portfolio then I agree but most people dont have more than a few thousand on the side and therefore dont want to take any risk at all. And so it goes..the rich get richer..
Most people are in dept, and deep into it. The amount of people that use those payday loans, ect. baffles me. I cant understand how people use that shit, that and charge things up on your credit card and pay it off with payments? You'd really have to be retarded to do that. I dont charge something unless I have the $ in hand or in an accnt & pay the bill the moment I get it. Why should I pay 20% interest on something?
As for the rich get richer thing, well it really does take $ to get rich IMO. The hurdle most run into is they try to take out a large loan in order to do this and end up running face 1st into it.
