$6.1 Trillion in Home Values Go Poof in Housing Bust

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Sooner or later, the bill will also come home to the American taxpayer. The United States is in a sorry state of fiscal dis-repair and it's going to get a lot worse.
http://www.geldpress.com/2009/02/obama-and-fiscal-disaster-worse-than-bush/

Geldpress of WA 3:03PM February 04, 2009

Get real. There is really no problem as far as I'm concerned. Don't YOU get it. This entire world is illusion as proven by quantum physics. It doesn't exist and never has, so you go ahead and get upset at the loss of trillions- what trillions, lol.
It's all good.
Donnie B. Good
Spring Green, WI

Donnie of WI 6:49AM February 04, 2009

Property values started going up quickly only after the dot.com demise. People were more afraid to put money in the market and so they put it into real-estate. Values grew only because there was more money changing hands. While a home’s value may have increased 50% in two years...incomes only increased 5% if that much.
More and more people were left out. Talk about a Ponzi scheme! This whole housing thing has been one big fraud on the American people. The banks even gave out loans for more than houses were worth...thinking the pie was in the sky!
Well..it wasn't a pie..I can tell you that! How about a chicken? Cause it came home to roost. Greed got in the way. We Americans are a very greedy lot. The bankers were out of control and so were the customers. Buying boats with home equity lines of credit... when the rising home values were just a fluke. Now the boat sits, cause the poor guy can't even afford to put gas in it or to buy the yearly sticker. Now the jokes on all of us isn't it?
Too bad we didn't listen to Grandma. She told us to watch our P's and Q's but did we? Now the whole world is headed for a depression of historic proportions. Governments are in a panic to solve the melt down, but none can. All they can do is postpone what will eventually happen.
I have to laugh when I see Democrats trying to pass health care for all of Americas children and to raise the standards for our auto makers fuel consumption. Here we are...in reality "Bankrupt" as a nation and still...they just don't get it, and are Republicans that much better? Under Bush just last fall they gave away 700 billion to bail out the banks. When the banks are now questioned as to what they've done with all this money. They tell us it's none of our business.
I think America is headed for a totally all out change in government. Rome fell from "within" and that is what we are about to see soon in the United States. Sure...it may take some years yet, as Washington continues to pour more newly printed money at the problem, but the "Grim Reaper" catches up with all of us....including stupid politicians! Too bad we've all been asleep so long. Our eyes have failed us! The blind have been leading the blind, and now who shall save us? God help America!
If you like my thoughts. Go to:therevelationman.com and watch my video on the last days. We are certainly in them now hey...

Thommy Sides of FL 6:02AM February 04, 2009

Property values started going up quickly only after the dot.com demise. People were more afraid to put money in the market and so they put it into real-estate. Values grew only because there was more money changing hands. While a homes value may have increased 50% in two years...incomes only increased 5% if that much.
More and more people were left out. Talk about a Ponzi scheme! This whole housing thing has been one big fraud on the American people. The banks even gave out loans for more then houses were worth...thinking the pie was in the sky!
Well..it wasn't a pie..I can tell you that! How about a chicken? Cause it came home to roost. Greed got in the way. We Americans are a very greedy lot. The bankers were out of control and so were the customers. Buying boats with home equity lines of credit... when the rising home values were just a fluke. Now the boat sits, cause the poor guy can't even afford to put gas in it or to buy the yearly sticker. Now the jokes on all of us isn't it?
Too bad we didn't listen to Grandma. She told us to watch our P's and Q's but did we? Now the whole world is headed for a depression of historic proporations. Goverments are in a panic to solve the melt down, but none can. All they can do is postpone what will eventually happen.
I have to laugh when I see Democrats trying to pass health care for all of Americas children and to raise the standards for our auto makers fuel consumtion. Here we are...in reality "Bankrupt" as a nation and still...they just don't get it, and are Republicans that much better? Under Bush just last fall they gave away 700 billion to bail out the banks. When the banks are now questioned as to what they've done with all this money. They tell us it's none of our business.
I think America is headed for a totally all out change in goverment. Rome fell from "within" and that is what we are about to see soon in the United States. Sure...it may take some years yet, as Washington continues to pour more newly printed money at the problem, but the "Grim Reaper" catches up with all of us....including stupid politicans!

Thommy Sides of FL 5:42AM February 04, 2009