10-02-2008, 06:45 AM
Was at a women's meeting today. Yes I belong to one conservative women's group, we raise monies and grant it to young women who seek higher education.
As a fiscal conservative and social liberal you see I have dichotomies. I feel if we help encourage and lift people on the way up, they will be prepared to take care of themselves to a greater extent during their lives, and while raising families of their own.
Sorry so long winded, but heard an exaggeration today that blew me away. All those sub prime loans to all those poor people put us in this mess.
Well hang on a minute here, of all the sub prime loans made, most 80% were to people climbing up the housing tree during the boom of the housing bubble these past 6 years! Trading up and up to higher and higher end housing. 20% of those sub prime loans went to low income families. Also the purchasing of the 2nd, 3rd, or 4th, residence that is no longer affordable as the fat days are long gone! Tough to keep up with the Jones.
A Realtor at the table where I was lunching said this is precisely so in our community. She said those 20% of the sub prime loans gratuitously given to the poor among us, are less likely to fail than the high end for a number of reasons the most prominent being 1. low income families in our county live 2 to 3 generations to a home, it is their most valuable possession and they are doing all they can to hold on to it. 2. many of the high end loans made on the sub prime market are loosing income and high paying jobs to meet their payments and walking away.
So just one misconception and of course this will all be spun to death in the spin cycle of oxycontin junkies (legal, and doctor shopped???), and viagra smugglers for all tuned into the airways to hear.
EDUCATE a women and you will likely be educating her protoge.
Aloha nui loa,
mella l
"Resolve to be tender with the young, compassionate with the aged, sympathetic with the striving, and tolerant with the weak and wrong....because sometime in your life you will have been all of these."
As a fiscal conservative and social liberal you see I have dichotomies. I feel if we help encourage and lift people on the way up, they will be prepared to take care of themselves to a greater extent during their lives, and while raising families of their own.
Sorry so long winded, but heard an exaggeration today that blew me away. All those sub prime loans to all those poor people put us in this mess.
Well hang on a minute here, of all the sub prime loans made, most 80% were to people climbing up the housing tree during the boom of the housing bubble these past 6 years! Trading up and up to higher and higher end housing. 20% of those sub prime loans went to low income families. Also the purchasing of the 2nd, 3rd, or 4th, residence that is no longer affordable as the fat days are long gone! Tough to keep up with the Jones.
A Realtor at the table where I was lunching said this is precisely so in our community. She said those 20% of the sub prime loans gratuitously given to the poor among us, are less likely to fail than the high end for a number of reasons the most prominent being 1. low income families in our county live 2 to 3 generations to a home, it is their most valuable possession and they are doing all they can to hold on to it. 2. many of the high end loans made on the sub prime market are loosing income and high paying jobs to meet their payments and walking away.
So just one misconception and of course this will all be spun to death in the spin cycle of oxycontin junkies (legal, and doctor shopped???), and viagra smugglers for all tuned into the airways to hear.
EDUCATE a women and you will likely be educating her protoge.
Aloha nui loa,
mella l
"Resolve to be tender with the young, compassionate with the aged, sympathetic with the striving, and tolerant with the weak and wrong....because sometime in your life you will have been all of these."
mella l
Art and Science
bytheSEA
Art and Science
bytheSEA