Train-wrecks
Sep. 16th, 2008 08:44 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
jhetleyWatching the stock market with wry amusement. Might be even funnier if that wasn't our retirement fund making a swirling noise as it circles the toilet bowl . . .
Once upon a time, I worked as chief designer for a builder of panelized homes. A large part of our market consisted of FmHA, HUD, and VA loan home-buyers. Subsidized mortgages. I recall telling the guys in the sales department that building houses for people who couldn't afford houses was not a good long-term business plan. And son-of-a-bitch, the place eventually went bankrupt. Having a thief for an owner didn't help, but the basic economics just didn't work.
And bankers used to be such cautious people.
Well, if you have any extra cash floating around, now would be a good time to buy.
Once upon a time, I worked as chief designer for a builder of panelized homes. A large part of our market consisted of FmHA, HUD, and VA loan home-buyers. Subsidized mortgages. I recall telling the guys in the sales department that building houses for people who couldn't afford houses was not a good long-term business plan. And son-of-a-bitch, the place eventually went bankrupt. Having a thief for an owner didn't help, but the basic economics just didn't work.
And bankers used to be such cautious people.
Well, if you have any extra cash floating around, now would be a good time to buy.
