Tuesday, September 23, 2008

Is it really as bad as all this?

If the financial sector is in such dire circumstances, why do I keep hearing mortgage commercials on the radio? I keep hearing advertisements say stuff like "We'll finance anybody." I'm currently in the process of refinancing my own mortgage. No problems with finding someone willing to lend out money.

If the housing "crisis" is so bad, why do I see vacancy signs at most apartment complexes? There are plenty of places to call home for those being foreclosed on. It may not be as roomy, but they can actually afford it, instead of me paying their mortgage with my taxes.

EDIT:
I'm hoping you don't need any background in this comic to "get it".

4 Comments:

Blogger Lance & Alayna said...

Well, I for one just feel like an idiot. If I would have known that the government and everyone else would be paying my mortgage, I would have never signed another year lease on my apartment. I would have moved into Paradise Valley! I am SO happy that now I get to continue to live in my apartment, throw away money on rent, and as an added bonus, pay someone else's mortage! Livin' the American Dream, right?

5:33 PM  
Blogger Wow Panda said...

Thank you for pointing that out. And the funny thing is, the government want to bail out all the fat execs. And it is for your own good!

7:56 AM  
Blogger Capn John said...

Hmmm, WaMu just folded. Ok, they were bought out by Chase, but that counts as going belly up.

I think the reason you're seeing/hearing so many ads from mortgage companies is they're all trying to drum up business because they're in desperate need of the revenue.

I think it's actually a lot worse than what we're being allowed to see.

7:56 AM  
Blogger BugHunter said...

That very top comment there, is my sister-in-law. She works for WaMu in Arizona. I wonder if Chase owning it will keep the branches open. Chase isn't exactly a stellar class institution either, so it will interesting to see how this unfolds.

John, I don't know whether I agree or not, with why a bank would run mortgage ads right now. Maybe I'll have to walk through my thinking in another post and see if I can come up with an opinion.

9:04 AM  

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