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  1. #1
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    Given a nice house and they still manage to blow it

    One of the homes from the "Extreme Makeover" is in foreclosure.

    The family was given the fully funished house and enough money to make the tax payments for 25 years.

    The family borrowed $450,000 against the house and haven't made the payments so the house is being foreclosed.

    Link:

    'Extreme Makeover' home in Atlanta in foreclosure | AccessAtlanta


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    Re: Given a nice house and they still manage to blow it

    Are you frickin kidding me? A $450k house and you manage to squander that away?


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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by brianhos View Post
    Are you frickin kidding me? A $450k house and you manage to squander that away?
    I wonder what they spent the money on.


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    Re: Given a nice house and they still manage to blow it

    It's ok, I am sure they will get their government sponsored bailout. I mean, it is not their problem they were duped into taking equity out of their house. It was the evil mortgage company who prayed on their innocence.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Given a nice house and they still manage to blow it

    On a related note, Showtime had a documentary on what happens to a homeless man when he is given $100,000.

    He blew through his $100,000 at high speed.

    Link:
    EconLog, The Power of Personality: What Happens When You Give a Homeless Man $100k?, Bryan Caplan: Library of Economics and Liberty


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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by brianhos View Post
    Are you frickin kidding me? A $450k house and you manage to squander that away?
    In less than 3 years....with no house payment......?



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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by alaskaguy View Post
    On a related note, Showtime had a documentary on what happens to a homeless man when he is given $100,000.

    He blew through his $100,000 at high speed.

    Link:
    EconLog, The Power of Personality: What Happens When You Give a Homeless Man $100k?, Bryan Caplan: Library of Economics and Liberty
    That is a big problem with people in this country. No one thinks more than a few days into the future. This is why this housing bailout is not going to work. These people are not fit to be homeowners. I know it is callous but sometimes the truth hurts.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by alaskaguy View Post
    I wonder what they spent the money on.
    The Harpers, who declined interview requests when reporters knocked on their door Friday, told WSB-TV they got the loan for a construction business that failed.
    Draw whatever conclusions you want from that. As someone in the story says, they could've bought a fairly successful established business for $450k.

    Who's going to buy this house? It sounds like it's by far the nicest house in the neighborhood. We looked at a house like that in Beaverdale a couple years ago when we were house hunting. I think they wanted $350k for the house, and it was surrounded by $100k-$150k houses. It was a beautiful house, but we couldn't believe it could be worth that much in that neighborhood.



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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by brianhos View Post
    That is a big problem with people in this country. No one thinks more than a few days into the future. This is why this housing bailout is not going to work. These people are not fit to be homeowners. I know it is callous but sometimes the truth hurts.
    The bailout is not gonna work?!? Its gonna work just fine for congress, thank you very much....They just bought themselves a lot of votes (with our dollars, of course)



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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by uro cy View Post
    The bailout is not gonna work?!? Its gonna work just fine for congress, thank you very much....They just bought themselves a lot of votes (with our dollars, of course)
    Exactly the problem. None of these redistribution of wealth programs work, they are just squandering the money of our kids to get themselves reelected.


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    Re: Given a nice house and they still manage to blow it

    Sickening....people are idiots.



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    Re: Given a nice house and they still manage to blow it

    Wooohoo! I got this moved to politics.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Given a nice house and they still manage to blow it

    I'm only surprised if this is the first family from the show to end up like this. The show goes way overboard on the houses they build. Most of these homes must look way out of place in the neighborhood.



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    Re: Given a nice house and they still manage to blow it

    My group of friends and I have talked about this type of thing before.

    We think of it like this. If the government were to go communist on us just for a bit, and redistribute ALL of the wealth in this country....instantly moving funds into and out of all citizen's accounts to make them all entirely equal....we believe it would only take ONE generation for close to all the money to get back into (and out of) the hands of the people that the funds were originally in.

    There are reasons that most people are poor. There are reasons that most people are rich. Deduce those reasons on your own.



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    Re: Given a nice house and they still manage to blow it

    Quote Originally Posted by ISUAlum2002 View Post
    My group of friends and I have talked about this type of thing before.

    We think of it like this. If the government were to go communist on us just for a bit, and redistribute ALL of the wealth in this country....instantly moving funds into and out of all citizen's accounts to make them all entirely equal....we believe it would only take ONE generation for close to all the money to get back into (and out of) the hands of the people that the funds were originally in.

    There are reasons that most people are poor. There are reasons that most people are rich. Deduce those reasons on your own.
    Ohh boy, that is going to **** some people off here... It is true, but it will make people mad.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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