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hirtysomething sorry but I couldnt resist to criticise your view quote ´The people who lose their homes are the people who should not have bought them in the first place´your comment seems to me selfish. I understand selfishness. But I can´t understand limiting others choices.
I agree with it to an extent, people that cant manage there money, re-mortgage to the max to spend on a new Audi/BMW or just get a mortgage beyond there means shouldn't be allowed to get themselves in to a situation like that. It is the banks responsibility to asess these people and they have been too eager to hand out the cash. The blame lies with both partys equally in my oppinion, the banks have a responsibility to the share holders, the savers and the borrowers to be sensible with the float, and the borrowers have a responsibility to borrow within there means so that if the un-thinkable happens (which it inevitably has) they will still be able to make the repayments. All are at fault for the current climate....But it has happened before and it will happen again.
Paz