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Ron Peltier Interview


Parsad
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I am sure Ron is a very intelligent guy. But it seems he has a problem with banks only issuing mortgages to people with 720 and above, and 20% down. Well, hello Ronnie!!!!    That's what banks are supposed to do: make responsible mortgages so the system doesn't crash again.

Mortgages are supposed to be hard to get, not easy. It is a priviledge to buy and own a house, not an entitlement. Home ownership is the largest contingent liability for the vast majority of people and should not be entered into lightly.

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I am sure Ron is a very intelligent guy. But it seems he has a problem with banks only issuing mortgages to people with 720 and above, and 20% down. Well, hello Ronnie!!!!    That's what banks are supposed to do: make responsible mortgages so the system doesn't crash again.

Mortgages are supposed to be hard to get, not easy. It is a priviledge to buy and own a house, not an entitlement. Home ownership is the largest contingent liability for the vast majority of people and should not be entered into lightly.

 

Couldn't agree more Hawk!  It's when people think everybody deserves a house...then you get trouble.  I think everyone deserves shelter and a place they can call home, with affordable rent for those that are of limited income, but I don't think everyone deserves to OWN a home...just like I don't think everyone deserve to own a car, Rolex watch or Prada suit. 

 

It's when people start to desire those things, and see their friends buying such things who can't afford them, then you get things like excesses and bubbles when loose credit becomes available.  Keeping up with the Jones' is very expensive long-term!  Cheers! 

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