Archive for February, 2009
The Epic Fail Of the Property Market After the Financial Crisis
Posted on 25. Feb, 2009 by admin.
With the credit crunch and the financial crisis nearly the whole world over, we can see that there has been an epic fail in the consumer market and the financial crisis has left effects that are not very likely to be recovered from anytime soon. The net income of the population has decreased by large percentages, and the situation is worse in the cases of people between the ages of fifty-five and sixty-four. This decrease is not only because of the fact that there has been an overall rise in inflation, but also because the rates of unemployment have risen to high levels and the spending power of the people has also gone down.
Because of the boom in mortgage and property, people bought properties and after this case of an epic fail, people have ended up with large amounts of debt and the prices of property have also plunged, hence decreasing the equity of these property owners. As a result there are many people who are selling their property at discount prices in order to fulfil their cash needs and to pay off their ever-increasing debt. As a result of this epic fail in mortgages, the homeowners have now ended up being the ones who are suffering a loss as they have mortgages to pay along with other kinds of debt. The people who have rented properties have a larger advantage as they don’t have low equity issues or mortgages to deal with, which is also at high interest rates.
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What are we doing in Iraq!
Posted on 11. Feb, 2009 by admin.
For the life of me I don’t understand why we are fighting in Iraq. Why did we end up sending our boys to that desert land? So that Bush could end his career as the dumbest president of the biggest super power by getting shoes thrown at him. Why Americans can’t learn from history is anybody’s guess. Was it the Iraqi oil, which made Bush go to war in Iraq? The supposed ‘Weapons of Mass Destruction’ chase proved to be a worthless hunt. America has nose dived into recession, American soldiers keep getting killed and the people watch haplessly as the administration continues this stupid venture. Iraq after the invasion has become a breeding ground for terrorists. The government installed in Iraq has no real power to run the country. I really hope Obama has his thinking hat on, and will do something about this this madness. The invasion of Iraq will go down in the annals of history as one of the biggest mistakes made by America. The next time America decides to invade any country I think we should send the congress in to face the first onslaught.