Posted by Todd Wilson on Friday, October 12, 2007 at 13:41:54 :
In Reply to: Wow... posted by MoparNorm on Friday, October 12, 2007 at 09:52:47 :
What I am seeing in Kansas here is the regular banks are doing fine. They only give out regular home loans. All the other lending outfits are in trouble because they have given all these stupid loans out to people who simply bought more house then they could afford. Now its catching up.
I been shaking my head for years around here trying to figure out how people are living in the 150-200grand houses with 2 new vehicles. They got the BS home loans and life was good and then they lost their jobs and now they cant sell these houses for that kind of $ anymore and stuff is getting fore closed on. In Kansas here there are lots of familys living on 30grand a year at the most and just getting by.
Todd