Human Face of the Mortgage Mess

[clifp]

Quote:

Originally Posted by haha Absolutely! And that is why inner city Detroit and Cleveland, not to mention Watts and Compton and Hazard KY produce the highest type of person on the planet. I wish I had realized this while I was still raising children. Could have given them a boost in life, and at the same time saved a pile on living costs. Nothing like dodging bullets to keep a kid on the straight and narrow. Ha

LOL HA HA

That sounds like a great idea for a reality show. Lets put kids in those places and see what type of character it builds. We can call it Survivor: Urban Jungle

[tryan]

Was talking to a successful builder (comparing notes about RE trends) ... topic turned towards hiring. He said: for every 20 mexican/hispanic immigrant worker he hires, he keeps 19. For every 20 white american worker he hires, he keeps ONE. After a couple years of "baby sitting" he stopped hiring white kids. Apparently they've become a little too pampered for construction work.

Couldn't make this stuff up.

[Walt34]

Quote:

Originally Posted by ikubak Unfortunately some people do not manage their money very well. Guy in my neighborhood was telling a large group at his house that they overspent when they gutted and remodeled their house. They have their house up for sale because they are having trouble making the payments. They asked us to pray for them as they sought ways to refinance so they could stay in the house. Finally, he said he would appreciate it if we would watch over his house while him and his wife were on vacation in Jamaica for a week..

Sounds like a couple my wife and I know - he's a carpenter, she just retired as (of all things!) a math teacher. They are $400,000 in debt. Their solution? Open a new credit account - the others are of course maxed out - and take a trip to Aruba!

What planet do these people come from?

[clifp]

Quote:

Originally Posted by Walt34 Sounds like a couple my wife and I know - he's a carpenter, she just retired as (of all things!) a math teacher. They are $400,000 in debt. Their solution? Open a new credit account - the others are of course maxed out - and take a trip to Aruba! What planet do these people come from?

I guess she must have skipped the chapter on compound interest. Yes these people are from a different planet than most of the forum members. On the other hand if corporations are stupid enough to loan them money, part of me understands why they take it.

[imnxpat]

Quote:

Originally Posted by tryan Poverty and hardship build character. Prosperity and security destroy it.

How poor are you, tyran? Do you enjoy it? Is it building your character?

[haha]

Quote:

Originally Posted by tryan Was talking to a successful builder (comparing notes about RE trends) ... topic turned towards hiring. He said: for every 20 mexican/hispanic immigrant worker he hires, he keeps 19. For every 20 white american worker he hires, he keeps ONE. After a couple years of "baby sitting" he stopped hiring white kids. Apparently they've become a little too pampered for construction work. Couldn't make this stuff up.

I believe you. But this is a special type of character. It's called dire necessity. To be able to do this is good if you need to do it. And having a worker who must make it definitely is good from the employer’s point of view. Nevertheless there are many aspects of character that are not covered by this test. Try these folks a generation later in East LA, when a tip called in to the INS can’t get them deported. Maybe not so much “character.”

Ha

[youbet]

Quote:

Originally Posted by tryan Apparently they've become a little too pampered for construction work.

A few generations ago, it wasn't Hispanic construction workers who were being sought, it was Irish. Broke and desperate for jobs, they accepted high accident and death rates willingly to get a paycheck. Google Illinois and Michigan Canel to read about the horrors they endured.

Today, white workers aren't "pampered" as you imply. They are just less desperate than the Hispanic workers and less willing to pay the toll in lost limbs, death, etc.

[Helena]

Quote:

Originally Posted by ikubak Unfortunately some people do not manage their money very well. Guy in my neighborhood was telling a large group at his house that they overspent when they gutted and remodeled their house. They have their house up for sale because they are having trouble making the payments. They asked us to pray for them as they sought ways to refinance so they could stay in the house. Finally, he said he would appreciate it if we would watch over his house while him and his wife were on vacation in Jamaica for a week..?? That's right, an all inclusive top of the line resort!! I don't know about everyone else in the room, but I immediately understood why they were having problems with the spending on their remodeling and their mortgage payments.

On a much smaller scale... when I was much younger... a single mom
with a handicapped child... I had a coworker... another single mom...
who was always broke. I felt sorry for her until I realized her problem
was the lack of discipline, not the lack of money. She would come into
the office and whine about not having any money until payday. Then,
the day after payday, she would show up with professionally done hair
and nails or a new dress, shoes, purse, etc.

Just this week I overheard a customer at a local thrift store say she
had no money to fix her car... again, I felt sorry for her until I left the
store and saw her outside smoking. The lack of discipline is expensive.

[retiringby50]

Quote:

Originally Posted by tryan yeah, evictions this time of year are tough ... had one Christmas Eve several years ago. Was a family of 4; restaurant fire wiped out his income back in August. October he's WAY behind ... eviction started. Lots of chances given by the court and I .... but Christmas Eve the sheriff and I were there changing the locks. ing.

When I first dating my DH, I had to help his dad serve eviction papers, and it was 12/23, but he couldn't wait any longer because they were so behind.

[tryan]

Quote:

How poor are you, tyran? Do you enjoy it? Is it building your character?

Speaking for myself - and perhaps many on this board - "character" came from the hardship overcome building prosperity and security. I have not overcome poverty