Comments on: Personal Story by a Lawyer from a Previous Asset Bubble. Can we Learn from the Past and How will the Housing Decline Impact You?

By: obama economic plan

obama economic plan — Fri, 08 May 2009 04:35:00 +0000

Cool Blog! I’m Reddit-ing this!

By: Conrad

Conrad — Sun, 29 Jun 2008 16:45:16 +0000

My wife is from Bulgaria and she and her parents lived through 1000% inflation in the 90’s. They are a lot like my depression era grandparents. The scowl every time we waste food and always try to repair things. I have learned so many skills that have been forgotten her but I beleieve may still come in handy like growing a garden, canning vegtables and makeing jams in jellies. What seems like a nice hobby to an American was a survival skills for my wife and in laws. An interesting side note is that during this time my wife said as soon as she would get a pay check she would imeddiately chang it into dollars so it would not lose value in couple of days. What a difference a few years make.

By: Mike in Iraq

Mike in Iraq — Tue, 22 Apr 2008 05:59:14 +0000

Ghetto is an ITALIAN word. The plural is ghetti.

By: nick gogerty

nick gogerty — Thu, 10 Apr 2008 14:58:10 +0000

Having grown up in iowa with a farming family, I can still recall grand parents who spook heavily of the period. One of the great works of the time about the consequences is of course the Grapes of Wrath. I would recommend renting or getting it on netflix. The DVD commentary on the countries political response to the book and the poverty is quite amazing and revealing. The housing bubble could lead to some extreme political change domestically.

By: Don Stephens

Don Stephens — Sat, 03 Nov 2007 18:29:10 +0000

Dr.Bubble, as always ,your article was informitive and enlighting. What I would like you to address, is the solution. We must first admit there is a problem. Our industry has a problem to address this fiasco, as this would prove we not only created this fiasco, we promoted it! There are few in this industry who have the experience and knowledege of the PRE-subprime market. Most of the people in our industry were trained on sub-prime programs, and had little or no training on conventional, or government loans, (after all these took more time, paper work, and paid less). Sub-prime came into the market in the mid 80’s, but expanded by leaps and bounds in the 90’s. Major lenders saw the increase, and opened the door further by creating their own sub-prime companies, ( check employment increases w/ M.B.A. during this time), along w/ new corp. that were created specifically for the sub-prime market, New Century, being one example. Traditional underwriting guidelines were thrown out the window. Alternate guidelines used to approve the loans were relaxed to the point of non-existence! Greed to produce more income became the focus. U/W were given Quotas to get loans approved quickly. These are NOT opinions, as the numbers will reflect this reality. I audited thousands of loans, and continue to advise the industry as an independent. I have forwarded suggestions to Corp. and have not recieved any response. If you would like, I would be more then happy to send you my overview, and resolutions to our current situation. Don Stephens M.C.A. (retired)