shewolf
24 Sep 2008
News / Why the American economy is not going to fail - take a lesson from Poland [48]
That is awesome. Congratulations.
Regarding the topic, I wonder how much of the economy's problems are due to the natural disasters that the U.S. has faced. The floods, tornadoes, hurricanes have just demolished entire neighborhoods and towns. And I'm sure a lot of those homes had mortgages and the businesses had loans and the banks are going to lose.
And it just seems like the lenders used dishonest practices in the first place to approve people for loans that they were never really going to be able to pay back once interest rates rose. Too many bad things happened all at once.
I thought about it a lot.. I for one will not be hurt..I have all of my money into real estate. As a matter of fact, Today I just bought another foreclosed home..I bought a $300.000.00 home
for $125,000.00.. That makes four homes that I now own.
The tourist season is now coming up in Florida.. I can rent these homes with a 20% profit. So I will not be hurt..There are no mortgages on any of these properties.
for $125,000.00.. That makes four homes that I now own.
The tourist season is now coming up in Florida.. I can rent these homes with a 20% profit. So I will not be hurt..There are no mortgages on any of these properties.
That is awesome. Congratulations.
Regarding the topic, I wonder how much of the economy's problems are due to the natural disasters that the U.S. has faced. The floods, tornadoes, hurricanes have just demolished entire neighborhoods and towns. And I'm sure a lot of those homes had mortgages and the businesses had loans and the banks are going to lose.
And it just seems like the lenders used dishonest practices in the first place to approve people for loans that they were never really going to be able to pay back once interest rates rose. Too many bad things happened all at once.