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Old 09-13-2010, 09:18 AM   #29
1972 Travelux Princess 25
Cobourg , Ontario
Join Date: Oct 2008
Posts: 1,049
Originally Posted by hampstead38 View Post
Easy, gents. There are about a zillion realtors out there. I'm sure some are great and some are not-so-great. And maybe I'm not a careful reader, but I didn't see where anyone on this thread is in foreclosure or taking routine trips to Vegas. The mortgage meltdown involved a wide range of factors... including gov't intervention into the marketplace. It wasn't just a case of realtors selling people houses they didn't need, or mortgage mills falsifying financial data, or the monetization of sub prime mortgages. It was a systemic failure... and individual homebuyers deserve some of the blame for making old-fashioned poor decisions.

My point is that I'm trying to sell my house without carving out a check for $20k... and I just wanted to know who had been successsful with what FSBO web sites.
If by systemic failure you mean a racket that eventually blew up while a handful of crooks walked away with loaded pockets I'm with you. The real estate agents were only a small part of the racket and they were not the ring leaders. But anybody who knew anything about real estate could see a crash coming. I saw it coming from clear outside the country, 3 years before it happened.

Home buyers deserve a small part of the blame but let's face it, they were sucked in by a well organized racket with all the persuasion of modern advertising behind it, endorsed by top government officials, banks, and the whole financial and real estate industry. When someone gets swindled by a professional con man I put most of the blame on the con man and only a small part on the victim. Some very smart people got conned and some of them still haven't gotten wise.

Living in the trailer park of sense, looking out the window at a tornado of stupidity.
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Old 09-13-2010, 09:29 AM   #30
1972 Travelux Princess 25
Cobourg , Ontario
Join Date: Oct 2008
Posts: 1,049
"I'm sorry you had such a negative experience, but I don't feel it's my fault nor do I feel it's the real estate industry's fault if you are in foreclosure."

I'm not in foreclosure and never have been. The hotel I sold was one I foreclosed on because the owner owed me money and didn't pay it back.

"Maybe you shouldn't have refinanced every 3 years and used the equity in your house to finance your vacations and trips to Vegas"

I know you think that's funny but it proves my point. A lot of people did get in trouble for just such a reason. Do you know why? Because of enablers called banks and mortgage brokers who sold them on using their house as an ATM. Homeowners didn't think up the idea. It was the big banks that made it possible, it was the big banks that sucked billions out of the public in fees and commissions, pawned off the rotten investments on others, then got a trillion dollar bailout from the government when the whole scam blew up in our faces.

Living in the trailer park of sense, looking out the window at a tornado of stupidity.
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