12% of all US HomeOwners in Default!

[c1ue]

Re: 12% of all US HomeOwners in Default!

<5% of all households - i.e. the entire population

8% of all home owners

Either way, a world of hurt.

[petertribo]

Re: 12% of all US HomeOwners in Default!

Applying the term Homeowner to people who do not own their homes is a perfect example of Doublespeak, words "deliberately constructed for political purposes: words, that is to say, which not only had in every case a political implication, but were intended to impose a desirable mental attitude upon the person using them."

We well know the Bush use of the phrase Ownership Society.

http://en.wikipedia.org/wiki/Doublespeak

Well, GOOGLE and MSM, if you don' t own your home but have debt attached to it you are a Homedebtor.

It is not Home Ownership but rather Home Debtorship.

And the US is not an Ownership Society it is a Debtorship Society.

The language of public conversation is loaded today with many such disguises and frauds.

[karim0028]

Re: 12% of all US HomeOwners in Default!

Applying the term Homeowner to people who do not own their homes is a perfect example of Doublespeak, words "deliberately constructed for political purposes: words, that is to say, which not only had in every case a political implication, but were intended to impose a desirable mental attitude upon the person using them."

We well know the Bush use of the phrase Ownership Society.

http://en.wikipedia.org/wiki/Doublespeak

Well, GOOGLE and MSM, if you don' t own your home but have debt attached to it you are a Homedebtor.

It is not Home Ownership but rather Home Debtorship.

And the US is not an Ownership Society it is a Debtorship Society.

The language of public conversation is loaded today with many such disguises and frauds.

Agreed, but again, that "home debtor" that is referenced i would venture to guess is most likely >80% of all people who have title to residence property in this country.... Wether you want to call them home owner or home debtor.... Either way its a world of hurt for them and us as it drives everything down in a debt deflation.....

Again, its eery how this was parlayed before by Jefferson.

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)"

If it werent for the ability to get the type of credit we saw the last couple of years and the propensity of banks to cater to the monthly "affordability" consumer; house prices would have been only high enough that most people could probably afford to pay for it in cash after several years of saving (as alot of other cultures do) or they would have been happy renters....