Comments on: The United States of Subsidized Housing http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: Omer http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-243631 Omer Fri, 29 Feb 2008 20:33:32 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-243631 Why I am responsible, as a taxpayer, for some ones decision based upon greed, stupidity or at best naivety? Why I am responsible, as a taxpayer, for some ones decision based upon greed, stupidity or at best naivety?

]]> By: JLP http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-243126 JLP Thu, 28 Feb 2008 19:55:46 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-243126 Jon, I agree but I also think that lots of people were banking on property values continuing on their upward rampage when they took out these loans. They gambled and they lost. I don't think education would have helped in this situation. Jon,

I agree but I also think that lots of people were banking on property values continuing on their upward rampage when they took out these loans. They gambled and they lost. I don’t think education would have helped in this situation.

]]> By: Jon http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-243124 Jon Thu, 28 Feb 2008 19:42:52 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-243124 More education is good because I'm sure it would help at least a few people, but let's be honest: The people falling "victim" to subprime mortgage loans are not the type to pay attention in school and/or understand what they're taught. Proof? They already don't understand basic math concepts like percentages and compounding. More education is good because I’m sure it would help at least a few people, but let’s be honest: The people falling “victim” to subprime mortgage loans are not the type to pay attention in school and/or understand what they’re taught. Proof? They already don’t understand basic math concepts like percentages and compounding.

]]> By: Minimum Wage http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242758 Minimum Wage Thu, 28 Feb 2008 03:33:36 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242758 Homeowners are a favored and protected class in this country. Homeowners are a favored and protected class in this country.

]]> By: jgs http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242615 jgs Wed, 27 Feb 2008 20:30:29 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242615 The point about education is spot on. There are a number of organizations that are working towards geeting financial literacy into the classroom. The fact that we as a society do not do this is criminal. Just today, I bought a financial literacy curriculum so that I can "home school" my 7 and 3 year old in personal finance. This should not be necessary, but if you want something done right, do it yourself. I am sick and tired of bailing out those irresponsible people in our society. Let me be clear, I am all for helping hos disadvantge via government programs as such, but I draw the line at helping those too stupid to help themselves. I cannot fathom buying something so expensive as a house, and not understanding the terms of my loan. I research buying a 1500 tv, let alone a $250k house. if you did not understand your loan, it's you fault. Step up and do something about it, don't ask me to bail you out. Personal responsibility also needs to be taught because it is evident that not enough people have it. The point about education is spot on. There are a number of organizations that are working towards geeting financial literacy into the classroom. The fact that we as a society do not do this is criminal. Just today, I bought a financial literacy curriculum so that I can “home school” my 7 and 3 year old in personal finance. This should not be necessary, but if you want something done right, do it yourself.

I am sick and tired of bailing out those irresponsible people in our society. Let me be clear, I am all for helping hos disadvantge via government programs as such, but I draw the line at helping those too stupid to help themselves. I cannot fathom buying something so expensive as a house, and not understanding the terms of my loan. I research buying a 1500 tv, let alone a $250k house. if you did not understand your loan, it’s you fault. Step up and do something about it, don’t ask me to bail you out.

Personal responsibility also needs to be taught because it is evident that not enough people have it.

]]> By: js http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242564 js Wed, 27 Feb 2008 19:18:00 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242564 Traciatim Says: February 27th, 2008 at 12:46 pm Has anybody proposed that financial education in high school is the answer to avoid this problem in the future and just let the people who bought houses they can’t afford trip and fall? ---- THat is such a great point. Instead of teaching kids some macro economic supply and chain graph. How about teaching them how to balance their check book, spend wisely, explain the risks of debt, etc etc. Its amazing that this information has to be self taught!!! I know I learned by reading and learning on my own. Ask my wife to balance a check book or what a interest only ARM is you will get a blank stare. As most people... Traciatim Says:
February 27th, 2008 at 12:46 pm
Has anybody proposed that financial education in high school is the answer to avoid this problem in the future and just let the people who bought houses they can’t afford trip and fall? —-

THat is such a great point. Instead of teaching kids some macro economic supply and chain graph. How about teaching them how to balance their check book, spend wisely, explain the risks of debt, etc etc.

Its amazing that this information has to be self taught!!! I know I learned by reading and learning on my own. Ask my wife to balance a check book or what a interest only ARM is you will get a blank stare. As most people…

]]> By: noodle http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242558 noodle Wed, 27 Feb 2008 19:10:28 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242558 i don't believe that "intervention" and "regulation" are the same in this case. imo, the "intervention" that would've helped the most is if, a few years ago, the government spelled out clearly that they would not provide help if things started to turn sour for large companies in the lending market. seems to me that the biggest companies did the stupidest things because they assumed that the government wouldn't let them go under, because of the economic implications and consequences if they did. i don’t believe that “intervention” and “regulation” are the same in this case.

imo, the “intervention” that would’ve helped the most is if, a few years ago, the government spelled out clearly that they would not provide help if things started to turn sour for large companies in the lending market. seems to me that the biggest companies did the stupidest things because they assumed that the government wouldn’t let them go under, because of the economic implications and consequences if they did.

]]> By: JLP http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242550 JLP Wed, 27 Feb 2008 18:54:08 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242550 Traciatim, No because that's not what is going to get the voters to the polls. Nobody cares about the future. They're more concerned with the here and now. Traciatim,

No because that’s not what is going to get the voters to the polls. Nobody cares about the future. They’re more concerned with the here and now.

]]> By: Traciatim http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/comment-page-1/#comment-242548 Traciatim Wed, 27 Feb 2008 18:46:31 +0000 http://allfinancialmatters.com/2008/02/27/the-united-states-of-subsidized-housing/#comment-242548 Has anybody proposed that financial education in high school is the answer to avoid this problem in the future and just let the people who bought houses they can't afford trip and fall? Has anybody proposed that financial education in high school is the answer to avoid this problem in the future and just let the people who bought houses they can’t afford trip and fall?

]]>