Here's the thing -- the collective greed of mortgage companies and banks, combined with developers and real estate agents created this mess. By not performing due diligence and thoroughly checking the credit and earning potential of mortgage applicants, we've got a record number of foreclosures on the table. These foreclosures eradicated the paper assets that the banks used to build up their collective statues in the financial world.
No sympathy here, folks. You mortgage people deserve everything you get. You have single-handedly contributed to:
1. The rape of our open spaces and farmland. Remember how Marlboro used to be apple country? Now you're lucky to find a working orchard. All that's left as you drive north on Lattintown Road are the ugliest god-awful McMansions I have ever seen. Plus, nobody that lives and works in the Hudson Valley can afford to purchase these monstrosities. This drives up the price of all the other houses and apartments, so people leave the area in droves. It's a phenomenon that isn't limited to Ulster County, you know. It's everywhere.
2. Ever stop to think that the reason deer, bears and other wildlife are targeted for death because they have no other place to go? Our forests and meadows are torn up and built up. So let's have a hunt fest and eliminate these "predators" because god forbid the deer eat our shrubs and the bear get into the garbage cans.
3. Since these homes are so overpriced they are assessed at a higher rate, thus driving up the assessment rate for every other home in the community. Our seniors cannot afford to live in their homes and have to sell out and move on.
Greed is not good, Gordon Gecko. Note to our congressional lemmings: If you really want to see angry people, let this economic bailout be used to pay some fat cat CEO a multi-million dollar buyout. You will see a backlash you can't even imagine.