The fancy formulas that economists use are only good if you know how to use them and you can control all or most of the elements.  Usually, when somebody knows what he is saying, he can explain this to lay people. Many of the bankers and political economists fail at doing both.    Grandmother was right when she sai...more

The fancy formulas that economists use are only good if you know how to use them and you can control all or most of the elements.  Usually, when somebody knows what he is saying, he can explain this to lay people. Many of the bankers and political economists fail at doing both.    Grandmother was right when she sai...more

I will still wait. Prices will go even lower in the next few years. If banks are willing to drop a price 30% it means something.

@ Lovinthedole "this article smells of favoritism to the banks and lenders, NOT the borrower...by god if you are divorcing the house is underwater...than just FORECLOSE and walk away...let the bank take a hit..."   I think this article is focused on what alternatives people have in case of an "angry" divorce.   Th...more

What I have learned over the last 10 years is: -Financial institutions need to make money. They don't care about the well-being of people. It is not their nature or goal. -If you want to borrow money make sure that:        a) Payment rules are clear        b) The monthly payments are not so big that you barely make...more

The US did that with Puerto Rico and with Cuba.....and it did not fare well. Banana republics end up being a way to lose money and can create hate/unpopularity amongst the locals.