1% interest rates

[classicman]

Originally Posted by Juniper

Take an ARM out on the off chance you might be earning more in 5, 10 years? Ha ha ha. Even if people do end up earning significantly more, chances are they are spending more too. Dumb.

Now, it really ticks me off to hear all the whining about "predatory lenders." Hey listen -- these were BANKS. Or mortgage brokers, who make money by selling a loan as a product. These are not noted for being nice, caring, altruistic people: Caveat Emptor.

Hey listen -- you buy a product, you make a mistake, it's YOUR fault. You should've done the research ahead of time and figured out what you were signing up for.

I could have bought a $500K house instead of my $200K house, but I thought it might have been nice to eat, too.

Very well said - I too bought my first home after working 2 & 3 jobs for years to save up for the down payment. I scrimped and saved and sacrificed. I HAD to be disciplined to achieve my goal. I was and I did. No entitlements!

The people who bought more than they could afford because they didn't do their "homework" or weren't/aren't willing to sacrifice get no sympathy from me.

If you took a risk & lost thats on you - YOU pay the piper.