I can see where living in a pricey, urban area can mean home ownership doesn't make sense, due to cost and big price fluctuations, but in my area (northeast Wisconsin) the prices have stayed pretty steady and it makes for a relatively stable investment.
Plus, it's just plain fun to have your own house.
My neighbor's house got foreclosed on and he lived there for at least a year after he got served papers, not making any payments, I don't think the house got to the market for another 6 months after that. It's not like people are missing a payment on the 1st and getting kicked out onto the streets on the 2nd. People getting foreclosed on have a lot of lead time. If you haven't made a house payment in a year, you know it's coming.
I'm happy with my house, it was really rough but the price was right and I don't mind doing the work. Now really is the time to buy if you have or can get the money.
A plumber is not a professional? A trade job is not a profession? You think plumbers install toilets and
"come into contact with another persons Poo" all day?
You have no idea what a plumber does. I know we're getting way off topic here but your ignorance is staggering.
Odd considering how popular the '57 Chevy has become.
I'm really surprised this isn't more of an issue. I bet now that the banks can see what the government wants to do/have control over, most would give the money back, or at least a big portion of it.
Not trying to be a conspiracy theorist here, but could the reason this isn't allowed be that they really do want to keep control of the banks, even the healthy ones? That's a horrifying thought.
Of course, if a large enough number of bond-issuing companies do go bankrupt/default on their bonds, then the collateral is lost to the original bondholders and AIG can't repay the money to the government.
Geez, I watched a 7 min video and suddenly I have a new understanding of what the "bailout" was for and how it could possibly work and could possibly fail.
When they hired Alan Mulally (IMO, one of the only CEO's I know of who's worth every penny) they were expecting exactly this. Mulally is famous for paring down Boeing to it's profit-making essentials, and I really believe that he can do the same for Ford, even if it takes a while.
I realize in a big city you have to have some kind of regulation on the parking, or people would leave shit parked in front of active businesses for weeks at a time. But 28 quarters? That's insane. And since it's Chicago, someone's getting a cut which ensures that it'll stay that way for a long time.