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  1. #1 Who made the money in the Housing Bubble? 
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    • WWII generation (Depression babies) who sold their suburban crackerboxes for more than they ever imagined they would get.

    • Florida developers, who sold those WWII generation transplants tropical pool homes and little pieces of paradise at a price that northerners thought was a steal and southerns thought was a pay day.

    • Construction workers.

    • House flippers and the ramora of handy men, roofers, painters, tilers, rehabbers, and chicken house carpenters that follow them around, not to mention the AC guys, plumbers, and electricians.

    • Realtors

    • Mortgage brokers

    • lawyers

    • and everyone who accepted business generated by the cash generated by the bubble
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  2. #2  
    Power CUer NJCardFan's Avatar
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    Guys who bought foreclosures, flipped them, and resold them.
    The Obama Administration: Deny. Deflect. Blame.
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    Senior Member txradioguy's Avatar
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    Liberal Senators and Congress Critters.
    In Memory Of My Friend 1st Sgt. Tim Millsap A Co, 70th Eng. Bn. 3rd Bde 1st AD...K.I.A. 25 April 2005

    Liberalism Is The Philosophy Of The Stupid

    To Achieve Ordered Liberty You Must Have Moral Order As Well

    The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.
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  4. #4  
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    Quote Originally Posted by Novaheart View Post
    House flippers and the ramora of handy men, roofers, painters, tilers, rehabbers, and chicken house carpenters that follow them around, not to mention the AC guys, plumbers, and electricians.
    What is a "ramora"?
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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  5. #5  
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    Better yet, who kept the money they made?

    I think the answer is, "almost no one". My experience is that almost all of the listed categories made some money and one time or another. But almost none of them kept it. Today, they are almost all back where they started.
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  6. #6  
    PORCUS MAXIMUS Rockntractor's Avatar
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    Quote Originally Posted by linda22003 View Post
    What is a "ramora"?
    He is calling tradesmen parasites.
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
    http://i.imgur.com/FHvkMSE.jpg
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  7. #7  
    Zoomie djones520's Avatar
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    And what is your point Nova? I'm just curious.
    In most sports, cold-cocking an opposing player repeatedly in the face with a series of gigantic Slovakian uppercuts would get you a multi-game suspension without pay.

    In hockey, it means you have to sit in the penalty box for five minutes.
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    Senior Member Zeus's Avatar
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    Quote Originally Posted by linda22003 View Post
    What is a "ramora"?
    I think they meant Remora and they are a sharksucker aka suckerfish. Someone has a rather low opinion of tradesmen.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  9. #9  
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    Quote Originally Posted by Rockntractor View Post
    He is calling tradesmen parasites.
    Ramora are not parasitic, they are symbiotic.
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  10. #10  
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    Quote Originally Posted by djones520 View Post
    And what is your point Nova? I'm just curious.
    That a great many people, and many different kinds of people made a lot of money in/off the bubble and yet almost none of them get mentioned in the blame for the burst.

    Did realtors tell buyers that the market was too hot and would probably pop?
    Did tradesmen tell buyers that putting a $20,000 kitchen in a $80,000 house probably wasn't their smartest investment?
    Did lawyers say, "I don't know how an appraiser could have said this house is worth $300,000 and no bank in its right mind would lend on it."
    Did banks say, "The house isn't worth $300,000, it sold for $70,000 ten years ago."
    Did homeowners think it was wrong to charge $450,000 for a WWII tract home?

    Each of these people make money, and wanted to get their check and get on their way. We generally consider that their business. But while this was going on, weren't ethics going out the window?

    When I was selling houses in the 1980's, when the bubble got close to the peak, my heart left the business. I simply could not figure out how this was good for the country. If things continued the way they were, it would mean that young people as a rule could never afford to buy a house near their parents. That would mean that grandchildren would grow up visiting their grandparents instead of being in their lives. In other words, my world was coming to an end before my eyes. Hometowns were going to simply become places where people live for awhile.

    Now I will grant you that the burst wasn't as bad, or at least I don't remember it being as bad. I remember some houses which has just sold for $328,000 (which I thought was ridiculous) being on fire sale for $289,000 and I did not blame the folks who had just bought the same model for more from walking away. Developers had started building ridiculous houses with turrets on treeless lots with the corn roots still in the dirt, and silly people were paying idiotic prices for houses they simply did not need. Barney Frank and black people had nothing to do with that, and they had little to do with what we witnessed here in FLorida.

    When the shit first hit the fan here- the culprits were failing investors, not aspiring or over ambitious homeowners who wanted to get in at any price. Investors, those people some Republicans like to bow when saying the word. Well those investors were buying houses they couldn't carry. They were paying too much money for those houses on the Bigger Fool Game. They never planned to pay the mortgage for those houses. And in the end they lost those houses. Twenty, thirty, and fifty houses at a time came on auction from one investor at a time. These were not "unqualified" people in the sense it's used around here; these were people banks consider to be high rollers and low risk.

    I just want people to get their heads on straight about what happened, instead of insisting on repeating the talk radio bullshit about the government forcing the banks to lend to "unqualified people" by which they mean black people.
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