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  1. #1
    Future's in the past....
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    11.03.17 @ 01:35 PM
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    Default Faces of the recession

    I ran across this special that will air on Oprah today which features former "middle class" folks which are homeless.

    There is a written description of some of the folks at:
    http://www.oprah.com/article/oprahsh...ling-recession

    Fairly sobering, to say the least.
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  2. #2
    Damage your reputation seenbad's Avatar
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    11.30.17 @ 06:15 PM
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    Yeah. How about "Move away from the Bay area if you're looking for work" and "Don't sign up for ARM's anymore if your income won't support the increase" so you don't become a "face of the recession".
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  3. #3
    Eruption
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    My sister is a teacher in Sacramento- she is losing her job. She is moving to colorado probably because there is work there for teachers... kind of a no-brainer.

  4. #4
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    11.03.17 @ 01:35 PM
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    Default

    I'm watching the show as I type this, and it seems like there's quite a diverse number of folks living in these tent cities and that they are not just in the Sacamento area.

    Apparently, there is a good sized one in Tampa and other cities across the country as well.
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  5. #5
    Eruption Naked Wake's Avatar
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    12.11.17 @ 12:57 PM
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    Default

    Quote Originally Posted by nothingontv View Post
    My sister is a teacher in Sacramento- she is losing her job. She is moving to colorado probably because there is work there for teachers... kind of a no-brainer.
    Wow. The drastic weather differences is going to depress her.

  6. #6
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    Nah, Sac is pretty cold- and they both snowboard so it probably won't be too bad.

    And take global warming into effect, Colorado will be a great place to live in a few years. California will be a desert waste land.

  7. #7
    Atomic Punk Viking's Avatar
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    11.02.17 @ 09:45 PM
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    Default

    Quote Originally Posted by seenbad View Post
    Yeah. How about "Move away from the Bay area if you're looking for work" and "Don't sign up for ARM's anymore if your income won't support the increase" so you don't become a "face of the recession".
    Bingo!
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  8. #8
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    I could not believe the condition of Sacramento when I watched Oprah yesterday, I live in the Midwest it honestly doesn’t seem like we have been hit as hard as the coasts. However our housing costs have always been pretty moderate. When I would watch those real estate shows on TLC or HGTV I would always wonder how the heck these people could afford it, now I know.

  9. #9
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    Everyone in the UK's finding their shares/loans/wages/savings are seriously messed up. My dad always insisted on remaining an NHS (National Health Service, government organised) doctor instead of going private. Earning less money but he's the one laughing now. And kept his savings in smaller, more reliable banks. Not offering so much in dividends, but they're the only ones surviving the storm. Never had any shares, just the safer premium bonds system.

    And we never took out a loan other than our mortage. Most British families it's the insane amount of debt they've gotten into having to be paid back quicker than expected that's hitting them even if they've got a job.

    The recession's hit mortage rates so it's actually been GOOD to my family.

    God help those people who aren't so fortunate . Have to say though, plenty of the public put their money in the wrong places, it's not just the banks.

  10. #10
    Damage your reputation seenbad's Avatar
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    11.30.17 @ 06:15 PM
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    Quote Originally Posted by BeautifulGirl5150 View Post
    I could not believe the condition of Sacramento when I watched Oprah yesterday, I live in the Midwest it honestly doesn’t seem like we have been hit as hard as the coasts. However our housing costs have always been pretty moderate. When I would watch those real estate shows on TLC or HGTV I would always wonder how the heck these people could afford it, now I know.
    Right. They couldn't!
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  11. #11
    Atomic Punk
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    07.24.11 @ 04:36 PM
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    There have obviously been a LOT of good hardworking people affected by the mess our country is in right now. However, just like after Katrina, most of those good hardworking people got their lives back together. The only people who were/are still living in trailers and complaining about FEMA not gibbin dem days checks are people who had already made bad life decisions. I have no sympathy for people who signed those crazy ARMs, 2/28 and pick your payment loans. That's all on them and Oprah can parade them around all she wants but I'm not going to shed a tear.

  12. #12
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    05.31.14 @ 08:17 PM
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    Default

    I wonder how much of Oprah's portfolio is in real estate?

    We already have two threads about how fucked California is. The worst is still to come as the next adjustments come in those ARMs, people who are just holding on will be out of their homes, and even hardworking people will have problems as they see their jobs vanish.

    What we've been through so far is that first drop on a rollercoaster, the loops and other puke-inducing turns are still ahead of us.

    Foriegn investors will start to pull their money of of the US. Economic problems in Europe, Asia, and South America will lead to civil wars of which the US could be drawn into.

    I'd throw in hyper-inlfation too but why be such a downer.
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  13. #13
    Sinner's Swing! Wickett's Avatar
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    07.19.17 @ 06:30 AM
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    Default

    Quote Originally Posted by broken9500 View Post
    There have obviously been a LOT of good hardworking people affected by the mess our country is in right now. However, just like after Katrina, most of those good hardworking people got their lives back together. The only people who were/are still living in trailers and complaining about FEMA not gibbin dem days checks are people who had already made bad life decisions. I have no sympathy for people who signed those crazy ARMs, 2/28 and pick your payment loans. That's all on them and Oprah can parade them around all she wants but I'm not going to shed a tear.
    Agreed. Something to think about though.. If neighbors on each side of my hours both have ARMs that go up and they can't make the payment, go into foreclosure, it affects the value of my home. The cycle continues so everyone is affected in one way or another.

    If anyone gets a chance, check out the special "House of Cards" on CNBC. Fairly interesting doc breakdowns and greed on the Mortgage side.
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  14. #14
    Future's in the past....
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    11.03.17 @ 01:35 PM
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    One of the local news stations had a report that included a woman who was allowed to refinance her once affordable mortgage and she ended up with a $200,000 mortgage...on a $20,000 a year salary. I say that the mortgage company should never have done this deal...I mean, what the fuck were they thinking?
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  15. #15
    Atomic Punk bsbll4's Avatar
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    12.13.17 @ 06:54 AM
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    Quote Originally Posted by BeautifulGirl5150 View Post
    I could not believe the condition of Sacramento when I watched Oprah yesterday, I live in the Midwest it honestly doesn’t seem like we have been hit as hard as the coasts. However our housing costs have always been pretty moderate. When I would watch those real estate shows on TLC or HGTV I would always wonder how the heck these people could afford it, now I know.
    Exactly. Now I have fun watching those episodes from 07-08 (or even earlier) and speculating at how much they've since lost in the value of their home.

    I hate to admit it, but I get a bit of glee watching these idiots pay $900,000 for a shit shack. Then again, I could just be an asshole.
    CNN may think my opinion matters, but you shouldn't.

 

 

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