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<blockquote data-quote="CrazedCat" data-source="post: 3602269" data-attributes="member: 568746">This is financial Darwinism and it should be let to run it&#039;s natural course. Those idiots who overextended themselves and bit off more than they could chew SHOULD face the consequences and be &quot;eliminated&quot;. It&#039;s basically rewarding bad behavior/poor financial choices and punishing responsible behavior.It&#039;s great news when the price of energy, food, transportation, health care and consumer electronics drops. But for some reason it&#039;s bad news when home prices drop. Instead of all the news focusing on sob stories about how these idiots bought more home than they could afford and are now losing their homes, shouldn&#039;t we be reading stories about formerly priced-out middle-income families finally getting their chance at the American Dream of home ownership?There&#039;s another side of the housing crunch equation that&#039;s not making it onto frontline news. For every house sold because the buyer couldn&#039;t make the payments there is a buyer on the other end of that transaction who got a good deal. And for every foreclosure, there are probably 10 buyers of nearby homes who benefited from the general easing of house-price pressure.</blockquote>

[QUOTE="CrazedCat, post: 3602269, member: 568746"] This is financial Darwinism and it should be let to run it's natural course. Those idiots who overextended themselves and bit off more than they could chew SHOULD face the consequences and be "eliminated". It's basically rewarding bad behavior/poor financial choices and punishing responsible behavior. It's great news when the price of energy, food, transportation, health care and consumer electronics drops. But for some reason it's bad news when home prices drop. Instead of all the news focusing on sob stories about how these idiots bought more home than they could afford and are now losing their homes, shouldn't we be reading stories about formerly priced-out middle-income families finally getting their chance at the American Dream of home ownership? There's another side of the housing crunch equation that's not making it onto frontline news. For every house sold because the buyer couldn't make the payments there is a buyer on the other end of that transaction who got a good deal. And for every foreclosure, there are probably 10 buyers of nearby homes who benefited from the general easing of house-price pressure. [/QUOTE]

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