Which is why people should enlist competent legal council before buying a home. I've bought three properties in the last four years without any problems. Once again, if you sign something you don't understand, or place implicit trust in a person or organization that stands to profit from that trust, you have nobody to blame but yourself.
I understand what you are saying and I'm not disagreeing...but we aren't working our way back to the root cause of the problem - that's what I am getting at. What / who / why were the loans allowed to be created in the first place? Most likely your grandparents grew up in a period where you had higher interest rates and a required down payment of 20% +. There was genuine savings by the citizens I bet.
I hear you and I agree with you. A lot comes down to the individual but...let us not forget how gullible people are and especially how they love rhetoric. "How fortunate for governments that the people they administer don't think." - AH "The broad masses of a population are more amenable to the appeal of rhetoric than to any other force." - AH Are you solely blaming the individual? Do you also see why/how the Gov/ Fed / Banks are responsible for the entire situation in the first place thus allowing the bad choice(s) to even be made?
Ah but banking, like any business, provides a service. If people didn't want to buy a house, or get a loan, etcetera, etcetera. Look I don't disagree, I think the banks should share the blame too. But to say its just the banks fault, isn't right either. Also it was a 10% down payment, not 20 And no, no real savings, they could barely get by, but you'd never see them miss a payment, or not repay something they owed. They made sure to read every contract thoroughly, and to never get caught with their pants down. But what can you say, inflation is a bitch in today's world. EDIT: Who is AH btw?
Even if Paul was elected, you would be able to get money for education. There is no one in this country that can't get an education, IF THEY REALLY WANT IT. Student loans, financial aid, community colleges and state universities offer programs that will allow anyone to learn anything they want. Funny thing is people say "I have a high IQ or I'm smart, I don't need school." What a crock. If you have a high IQ, you have a high capacity to learn. If you haven't taken the time to study something and learn it, you don't know crap and your a moron with a high capacity to learn.
Actually no and I should have been clearer about that. I still believe we are all ultimately responsible for ourselves but there is plenty of blame to go around.
When you mean the 'folks who made bad decisions', you of course can't be referring to anyone other than the Government bureaucrats who pumped up the real estate bubble with their expansionary credit monetary policy in the 90's, and of course you can't be talking about the ratings agencies who allowed for the bundling and securitization of virtually any loan that passed through their doors, and of course you can't possibly be referring to the out of control banks who gave mortgages to people with terrible credit ratings. You're entirely right, the people who are to blame, are the people who lined up to basically get free money.
The banks were actively lying to people telling them these houses would pay for themselves. I'm sorry, but people lining up to get free money are not to blame. The media and the Government were both pushing the same narrative as the banks. Blaming poor people for not refusing free money, and ignoring the 'experts', the Government, the media, AND the banks, as well as turning a blind eye to climbing real estate values, is ridiculous. Blaming poor people is the same flavor of class warfare as 'let's fleece the rich'.
I've seen a lot of intelligent kids over looked because of their poverty status...some schools are full of those kids, and they never have a chance due to an apathetic system...and people that led sheltered lives saying those kids can better themselves if they just try harder... grants are not as easy as you think...and loans only scare the hell out of those already in poverty... I never qualified for a grant, or scholarship, my parents made to much, yet not enough to afford to pay...catch 22 for a lot of kids How nice, you had both parents...they encouraged you, showed you they cared...some don't have that in their lives...that and other factors that varied from your experience, affect the kids and they soon get stuck in the apathy trap...it's looking at the big picture, not focusing on a pixel. Congrats! way to go, study hard! well there you go, done did it...fell back into that mindset that the poor deserve what they get... Why limit people based on wealth...why place a cash value on having an education, use it just as a commodity, education is about knowledge, expanding your mental abilities...not seeking wealth (look what has happened to Dr's today, in it for just the money, not to heal) A lot of brilliant people are never given a chance...sad...so goes the status quo...
Once again, you don't have to line up to take the money everyone has a choice. And when you don't educate yourself, or don't have the resources to pay it back there will be consequences. Who said I was blaming the poor, all people's borrow money. And all people are equally stupid if they take more then they can pay back. Once again blaming sole responsibility on one party is dumb. I know, I know the government is evil and so are the banks, and I agree. But someone had to put their signature on the dotted line, someone had to shake hands and accept the money. And if they honestly believed it was "Free" then they are even more stupid then I originally thought.
ya, nothing else in a kids life affects them...home and school is safe, teachers caring, compassionate...every kid has both parents, that show them with love and care...a nurturing environment...shame some kids never have such a life. IQ vs environment...some fight their way out, but it is rare, most just fall between the cracks. If a person/kid can pass the entrance exam, why not give them a chance to learn, earn a degree, and be able to contribute MORE to society then they could without it. Seems our country would be better off.
I get that part. Many kids today are abused by there parents and it is very difficult for a young kid that has shitty parents.
parents, teachers, superintendents...police...entire areas are stuck in a trap, here in Kansas City I see an area that is just sinking further down hill, and kids there are forced to abandon thoughts of college...and the economy now is only making things worse...sad.
If someone is geniuinely intelligent, they will stand out among a school full of poor, unintelligent people. Not everyone can be intelligent, no matter how many classes you send them to. Trust me, I know all about that income bracket. I'm sorry, but if you didn't qualify for any scholarships, you weren't that intelligent. Just like any other commodity, you have to earn education. What status-quo are you talking about? There will always be an upper class and a lower class, and the intelligent will always run the upper class.
Because that's simply not true, or the case today. I posted a lot of relevant stuff but here it is again since it touches on the above. College isn't what it used to be - often times you leave with just a lot of debt. Rethinking College as Student-Loan Burdens Rise James Altucher's 8 Alternatives to College The Education Bubble - B. T. Donleavy - Mises Daily College debt up 50% in a decade- The Daily Ticker Number of the Week: Class of 2011, Most Indebted Ever - Real Time Economics - WSJ Peter Thiel Explains Why Dropping Out Is Cool 85% of college grads return to nest - NYPOST.com brain drain most college students learn next to nothing new study says: Tech Ticker, Yahoo! Finance Ron Paul: Government involvement causes price inflation in healthcare and education
If you are super motivated and you have an idea and know what you want to do you don't need college. If you want to work for a company in a job other then labor, you need a college degree.