foreclosures...

Hello everybody. I hope I don't shoot myself in the foot when I say this, but who's to blame for all the foreclosures and tough economic times...It seems everybody is blaming the public and the buyers...Let's not forget, everyone needs a home...a roof over their heads...a place where they can come home from a long day at work and say it was all worth it...and they are the working people...one job...two jobs...

Let's not forget...the ones lending the money really don't care if you can pay back...they make a profit either way...whether you pay up every month or find that even though you are working 2 jobs and still can't make ends meet and let the mortgage payment slide because you have to put food on the table....

Let's not forget that banks have wanted to enter the Real Estate business of selling Real Estate. The National Association of Realtors has been fighting it. To quote another blog...

"Folks, the vast majority of market share goes to a few big chains. You've heard the names. You know who they are. One belongs to one of the world's biggest financial corporations. Four of them, that most people think of as being competitors, are nothing more than different brands owned by the same company. On that scale, independents like the one I work for - thousands of brokerages nationwide, some of them in multiple locations - account for a grand total of about fifteen percent of market share, last I checked. The big national chains get the rest. They're just as corporate as the lenders, and they're anxious to protect their turf from the one group of potential competitors who have some kind of understanding of the business and otherwise low barriers to entry."

Whose interests are being served?