Banking District (Photo credit: bsterling)

Buying a home is one of the most exciting things a person can do.  I can remember the first home our family bought.  We thought we had the world by the tail!  Our very own home – WOW!   I can remember when the Dodd-Frank and President Bush 2 said everyone needed to own a home.  It all fell in because everyone that bought a home was not capable of paying for a home.  When a person with a salary of $35,000 buys a home worth $500,000 and the bank puts them in this home – I blame the bank and the people.  Also, during the “every one needs a home period,” people were going to the bank and re-mortgaging their homes because of the false-rising equity.  I can remember watching on television with the advertisement – re-mortgage your home and use the money for any thing – vacation – second  vacation home – new car.  Then everything hit the fan and property values reversed.  People could not understand why they were under water with their mortgages.  So you cannot blame anyone but the people and the banks for being so blinded.  Here we are in 2013 whereby people cannot pay for these homes, the neighborhoods become blighted, and the people walk off with the key in the front door.  After that the looters come in and help themselves.  Houses all over the country are falling apart because the banks are not investing any more money in the homes.  I do not understand why the banks don’t sell them for pennies on the dollar  just to get out from under them.  Now they are just demolishing the homes in these neighborhoods. 

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