Well it seems our Burbank days are over and it is Sherman Oaks for us. For 13 years we have sat here in the worlds worst valley full of pollution, the fires , the soot , the car exhaust. Our apartment building was flipped three or four times which each speculator wanting more in rent because as you see Burbank is not rent controlled and now they want 2000 a month rental for a rat trap. I had dinner with a friend and mentioned it and she told her landlady and we got an apartment in a better building, better location , rent controlled area, right off a park in a really nice community for what we are paying now. Oops! Half our building has moved out and the cost of renovating our apartment here after we leave will destroy any profit for the owners for years to come. Dumb, very dumb. But that is real estate in America today.
This year two million home owners will go bankrupt and have their homes foreclosed on by banks/lenders that tricked them into loans or refinancing they couldn't afford . So now the apartment renters are trying to gut what is left of the American middle class and turn them into indentured slaves for the New World Order living hand to mouth. Capitalism with a capital A (for assholes) .
And all this started because Bush needed to fake the GNP so in league with the Federal Reserve (a conglomeration of banks that run America) they removed credit checks and standards for home purchases. And it worked because construction rates went up and inflated the GNP. Neocons and war mongers pointed to the numbers trying to pretend that out president isn't anything but a sock puppet. End result ? 90 % of the applicants lying about their income and getting homes without the slightest ability to repay them. A market made up of 25% speculators. Massive consumer debt and bankruptcy laws put in place to keep you paying till you are deep in the ground and buried. Who was stupid enough to believe the housing boom would never end or that a 120,000 house is actually worth 600,000 ? LOts of people. Everyone who didn't buy in should feel like a million dollars. And while we are at it how about the loan industry targeting old poor black women for personal loans . How about that for kindness ? For every poor older black lady you see on the news getting help to save their home from bastards who tricked them into poverty there are ten who just gave up and lost everything they had.