(Written by an American expat who holds an MBA degree and is living in the European Union)
email: democratsramshield@yahoo dot com
Welcome to the lost continent of American Atlantis, the land of underwater mortgages, a country where waterfront property has a new meaning.
Daily Mail UK quote: "Housing market sinks deeper as ONE THIRD of homeowners are underwater on their mortgages and owe $1.2 TRILLION more than their homes are worth........Nearly one third of homeowners are underwater on their mortgages and owe an average of $75,000 more than their houses are worth, according to a startling new report by the real estate research firm Zillow." End of quote.
Daily Mail quote: For now, though, they keep making payments. Nine out of ten underwater homeowners are current on their mortgages." (End quote)DON'T WE KNOW PAYING OFF NEGATIVE EQUITY IS PAYING FOR NOTHING! SHOULDN'T EVERYONE STAND TOGETHER AND STOP PAYING EN MASSE! TO FORCE A MARKET CORRECTION THAT ALLOWS EVERYONE TO STAY IN THEIR HOMES!
There is no better way in the modern day American neo-feudalist state to ensure a compliant population than through debt slavery. Therefore it becomes important to ensure that people are in debt longer. Ergo Wall Street newest gift to America, the underwater mortgage, where you too can become the proud owner of waterfront property like it or not. With that most innovative gift from Wall Street, your 20 year mortgage may now well take you 30 years to pay off, assuming that they don't force you into foreclosure first.
If one third of underwater mortgage holders all stood together, it would be a practical impossibility for the banks to evict everyone and ruin everyone's credit. That's not the problem. The problem is that working class American families en mass to date will not stand together! We must all stand together or surely we will fall apart.
The really great thing that plutocrats love about America's modern debt slavery is that they point to your signature and say 'they were stupid enough to sign it' while they laugh straight in your face. In fact they're laughing all the way to the bank that you bailed out.
HAVE WE BEEN BRAINWASHED? What's an underwater home owner?
WHY CALL PEOPLE WHO OWN NOTHING 'HOMEOWNERS' IN WHAT MAY ONLY BE DESCRIBED AS AN APPARENT SEMANTIC PERVERSION (NEGATIVE MORTGAGE EQUITY AXIOMATICALLY EQUALS DE FACTO RENTING WITH HOMEOWNERS FINANCIAL LIABILITIES FOR TAXES, INSURANCE AND MAINTENANCE. THIS IS WORKING CLASS EXPLOITATION PURE AND SIMPLE IN NEO FEUDALIST AMERICA'S GOP LED CLASS WARFARE WHOSE CLEAR INTENT IS TO DISPOSSESS PEOPLE SO AS TO GROW THE RANKS OF AMERICA'S NOUVEAU POOR EXPONENTIALLY)
But wait it gets worse some of these so called underwater homeowners in what may only be described as an economic Stockholm syndrome actually vociferously defend the policies of their Wall Street oppressors, in what may only be described as sophistry. Have we been brainwashed to act against our own self interest? In the same way that we vote against our own self interest for politicians who we know will sell us out to the K-Street lobbyists! When is it enough? When will our atomized society unite to defend working class values, which will include a European style social safety net, which includes universal medical, dental, paid sick leave, paid maternity leave and paid annual leave even for low wage workers, and affords people an opportunity to be secure in their possessions to include their mortgages!
Daily Mail quote: Seeing red: Michigan, Georgia, FLORIDA, Nevada, Arizona and California are all hotspots for underwater homeowners..
Keep paying: Despite their homes being underwater, most people continue to sign mortgage checks every month..
Through a system of legalized theft the one time home owners lost all their equity and worse as the home is now underwater the banks are asking them to pay for nothing, because that's what negative equity is, it is nothing!
Amazingly 9 out of 10 American's are paying on time every month but getting nothing, that is no equity in return. The plutocrats are laughing all the way to the bank. But if we all stopped paying underwater mortgages who would
have the last laugh then?
WHY DO WE CALL PEOPLE WHO OWN NOTHING HOMEOWNERS!
Why are we speaking language of the oppressors?
Daily Mail quote: "All together, American homeowners are saddled with $1.2 trillion more mortgage debt than home value -- a statistic that Zillow warns could cause even more people to walk away from their homes and bring even more foreclosures to the housing market."Further evidence of brainwashed thinking:
People should in a free market be allowed to exercise the option of not paying en masse, therein allowing the market to make a correction. Wall Streeters profit from corrections all the time. Yet working class people have been brainwashed into thinking if they profit from such a market correction, it's immoral. It's only moral if the Wall Streeters profit from corrections.
But the plutocracy is literally banking on your compliance as a victim of their continued fraudulent real estate market manipulations. They depend on you to be atomized instead of unionized. If only people would stand together and refuse to pay these fraudulent charges and refuse to leave their homes, the market under the sheer weight of our numbers would make a correction in favor of working class homeowners. That's the most efficacious course of action en masse to get out from under America's underwater equity crisis. But there people must make the decision to stand together in working class solidarity to Occupy their homes!
So tell us, fellow Americans when do you get to be mad as hell to the point where you're prepared to say, "I'm not going to take it anymore!". Is it when 50% of the homes are underwater in America? Is it when that figure gets to be 75%? Please tell us, what is your true percentage number when is it finally going to be enough for YOU. Of course we do recognize that American elections in our atomized society are largely a meaningless public relations media extravaganza where said elections are bought by private capital. However, this is an election year and you can simply opt to throw the rascals out and in keeping with the site mission of the Daily Kos to work to elect better progressive candidates in this election cycle and the next.
Quote:The number only fell one percentage point from last year -- a sign that home values are not recovering from the housing crashThe only way to effectuate change is through sustained collective action by the public.
The areas with the most underwater homes are also the deepest in debt. Five percent of homeowners owe at least twice as much as their houses are worth.
Quote:"In Las Vegas, where the housing market cratered after the housing bubble popped, 71 percent of homeowners owe, on average, $106,000 more on their house than their value -- and 85 percent premium."
Despite the fact the 2012 elections will cost over $2 billion dollars, essentially bought by private capital (primarily financial capital). These elections are essentially depoliticized, focusing instead on so called character qualities of the candidates largely in what may only be referred to as a media public relations extravaganza! Wherein issues that confront the great American working class in the GOP led class warfare are never substantively addressed except in all but the most forgettable sound bytes. Therefore the American public has become completely atomized at this turn of events, wherein millions are angry and confused, no longer knowing the way out.
To win in America all we have to do is to care about each other and stick together!
If we are looking for change we must look to the Occupy movement to provide
that peaceful nonviolent approach to change in helping to elect better
progressive politicians to public office. The Occupy movement and the
American unions are the last great hope of the American working class dream!!
Thanks for taking the time to read my diary!
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