For sale: The American dream | Fault Lines
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- เผยแพร่เมื่อ 3 ก.ย. 2012
- The US' housing bubble burst nearly six years ago, but the worst may be yet to come.
After a landmark settlement, the major banks have lifted a freeze on foreclosures and government relief has been too small to make a difference.
"We are often portrayed as the bad people, like we basically just come in and make all the money from people who are in bad situations. But the fact is, if we don't buy the property then the bank [will] take the property back."
- Amy Chen, a real estate investor
Public housing budgets have been slashed, leaving larger numbers of people with no place to call home.
The line between home ownership and homelessness is growing ever more blurry, but neither President Barack Obama nor Governor Mitt Romney have made housing a major campaign issue.
Meanwhile, popular anger is rising over the perceived impunity of the banks and some have found innovative ways of fighting back in an age of austerity.
Fault Lines travels to Chicago and California to see how people at the frontlines of the crisis are confronting the collapse of the American dream.
"If you ask people who have been foreclosed upon, whose fault is it? They often they say it's mine. It's my fault, I did the wrong thing, instead of kind of saying this is a systemic problem," explains David Harvey, a social theorist and a professor of anthropology at the Graduate Center of the City University of New York.
"Capital is always producing surpluses, at the end of the day if you have got a profit, you've got a surplus and the big question is what do you do with it.
"[So] what you do is that you take part of that surplus and you reinvest it in something. And in United States, housing and urbanisation in general has been a vast field for expansion of profitable opportunities."
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That deputy looks worn down. I don't care how much you try to block it, seeing people especially children being evicted must be heartbreaking. I couldn't do it.
I wouldn't do this job
I would rather clean the streets with a toothbrush.
@Monica Jones Just By Looking At Him He Did Not Want To Do It. It Was Hurting Him Inside By The Way He Was Looking At The Children I Felt Really Bad For Them. I Hope They Found Somewhere To Stay.
He does look worn out heck I would be too. I don't think there are too many people who can really push it to the back of their minds.
I lost my house after 30 yrs of home ownership! I was in my first home for 12 yrs then I moved up to a better neighborhood for my children. We were in that home for 18 years until I lost it at Sheriff's sale due to me being very sick and unable to work. Two days after the Sheriff's sale I found out I was approved for Social Security Disability.. 2 stinking days.. smh.. 😪 I'm totally spent now I feel like I'm not a part of the world or a part of society, I don't know where I belong anymore? The sad part is my home is still empty as I look for a place to RENT and call home, I will actually be paying much more to rent a smaller and distressed apartment or townhome. How does that work? Seems really messed up to me and I've worked all my life had money saved, I had a few 401k's a 403b; now I have no savings no safety net shoot I have no where to fall from so there's not much need for a safety net is there? You could say I am very disillusioned I just don't want my kids to lose out on anything because I got sick.
a cop out
When I first bought my house in 1994 I Was approved for $300K but my wife and I knew we could not afford that big of a mortgage. So we decided to go for the base model house which we knew we could afford. Then 8 years later I noticed that the value of my house had somehow tripled. I had taken a real estate course and knew that something was not right. We decided to sell before the Real Estate balloon bursts. We sold our home in August of 2006 and thank God we did.
LOL! Unfortunately not. I am still a working family man living in Central America.
Central America is pretty cheap, of course. Are you in Panama?
Unfortunately Central America is not cheap. The cost of living is pretty much the same as the states. Unfortunately the job I have that actually came from CANADA used to pay between 40-50K a year and I am forced to do that job and other jobs for $17,000 a year and that is before I pay taxes and medical insurance.
So what is your scope on living in Central America? I need someone's input who doesn't live yet on regular pension checks.
I moved to Central America in 2009 because my daughter was little and I did not want the Liberal's brain washing her mind in very poor public schools in NJ. I am now looking to move to North Carolina and hopefully will once the Tax Reform bill is passed. I am praying for the bill to pass soon so that I can go back to the USA. Central America is just not a good place to live if you have children. Extortion is rampant and crime is just not stopped the police and government our extremely corrupt. I am so ready to go home.
4:30 "Everyone needs to take responsibility, I pay my mortgage where I live so everybody else has too" ...what this "vulture" investor lady doesn't realize is that an accident, a major illness, loss of job, divorce, a death in the family can wipe out a family's savings and leave them unable to pay the mortgage and bills. For most it's not lack of responsibility but unfortunate events, I hope vulture lady doesn't find out the hard way.
Veronica C. She bugs! I used to be an auctioneer out there and she makes up a good percentage of who’s buying up the properties it’s sickening. Greedy much
@@RainsWorldVegasSlots Yeah, those type of people usually get filthy rich cause they have no empathy and no qualms about making money off the backs and suffering of others. Our government and corporations are now being run by such people, that's why Americans are no longer able to reach the "dream".
Veronica C. 😢
I hope she does find out the hard way.
Danielle oh she’s thankful , and greedy and entitled and rich ALLL the wayyy to the bank
Banks will never be your friend. They don't care about you only themselves.
Of course. They are doing business. If you feel sorry for everyone you won't make profit
It helps if you work for them. Get into IB, then you won’t be complaining.
the banks are like the casinos . . . . they never lose
unless it's a trump casino. they fail
@@billygoodman8077 I was gonna type that same thing.. lol
The banks can't lose! They're playing with your money! If they win they keep the profits. If they lose you pay!
They create new money out the thin air every time they create a loan. They risk nothing.
Leehman Brothers lost. Countrywide lost. So yes, they DO lose.
I live in suburban LA.
Oct. 3, 2014, I was laid off from the clinic. I went home that night, woke up next day and went out the front yard where a man was there.
"Your rental property has been foreclosed upon, you have a month to vacate."
After nearly 6 months on unen-joyment, I finally have my first interview Tuesday.
Wish me luck!
Goodluck!
YouDontKnowMe hope things got better for you
Good Luck!
How are you now?
May God bless you with great success! Hope you are now living a blessed carefree life! ✌️
That man was absolutely correct, “the government should have bailed out the people, the banks will always be ok”
Of course bc banks keep people underwater
It's every were now not Just Calie
I would rather work 2-3 minimum wage jobs, before I would work as the person who has to evict families from there house. I would not be able to sleep at night.
Wouldn't bother me. Pay your bills. Quit having kids you can't support. Read contracts. Duh. Nobody gives the middle class who work nothing.
this happened during the recession. people lost jobs. what are they supposed to do, kick the kids out on the streets. you are cruel
Evictions are done by a city employees. May be Sheriff or other officials. It is not a job but part of a job responsibility.
There was a recent case in Ireland when a farmer was evicted from his house by a group of bailiffs from another jurisdiction because local people would not take on the job of carying out the eviction. Local people set the bailiffs vans on fire and torched the house rather than let the banks have it without pain. Similar incidents have happened with repossesed houses being vandalised before being resold after an eviction and potential buyers have been warned off from buying such properties. The banks got only a fraction of the money owed as a result.
Winds of March Journey/Perry tribute band very insensitive.
Nobody owns property, they rent it from the government. Even if you paid your mortgage, but cant pay taxes, the government will kick you out. So much for freedom when you can't own your own home.
Yet countries like Cuba, the government gives you a home. O_O The government only takes it back when no one lives in it for a certain amount of years and there is no claim. It happen to my moms' childhood home in Cuba. When she came to the US the house was abandoned. No one claimed that property or house for 20years and the government just took it to give it another family. Houses don't go empty for long in Cuba. Every available house is given to those who need one. Some sort of housing program. You just pay for maintenance, everything else is paid for by the government. I don't know if that system changed since 2001 (when I last visited the country), but that system of "Government gives you a house, not take it away" is nice.
@@LadyCoyKoi But look at all of the other issues they have. If Cuba was a good place to live, they wouldn't climb on rafts to risk their and their children's lives to come to America.
Exactly.
under the constitution income and sales/postal taxes negotiated by the people and individual state can be deemed constitutional...….4 core pillars of the constitution: land, liberty, freedom and happiness ...but property tax violates American property/land rights...……...any law deemed unconstitutional can be null and void.
You basically own it... you can do whatever you want with it for the most part. Depending on where you are I guess. Also It's tax deductible.
What's disgusting is how they intentionally gave low income people mortgages banking on the owners to lose their homes and they could benefit from the owners losses. That just shows how evil money grabbers can be.
Furby Gender
Furby Gender don't hate the player hate the game
Blame a democratic congress. Learn to read. Learn from history. It already happened. No reason to stay ignorant.
Furby Gender they called he banks racist for not approving low income people credit so the banks gave out too much credit and it created a bubble
They fault for not get inform, get smart get top
oh god, I want to cry. Babies, kids, elderly etc on the street. My god.
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, 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 in the debate over the Re-charter of the Bank Bill (1809)
She looks as though she is a grandmother taking care of her grandchildren. It is horrible, especially for the little children!
Joseph Valenti sad
That maid me so sad😖
I feel bad for the grandmotherbut it would have been less embarrassing and traumatizing if she was already moved out. She said she knew that they foreclosed on the house I think if I'm not mistaken. As far as I I know is that you have to be under supreme special circumstances to beat a foreclosure. Usually very low income people have zero chance of saving their home especially if they got no one to fight on their behalf I work close enough with them so I feel like that illegal foreclosurenotice would have been a heads-up that they are gunning for your house and stop at nothing to boot you out. Not to be insensitive but if you know you are way behind on your payments and you receive a foreclosure, the smart thing to do would be to at least start packing up some of your stuff in case things don't go your way. Start at least looking for affordable housing way ahead of schedule. And if you somehow by miracle from God, beat the foreclosure then you'll save yourself the horror of your grandkids & loved ones see you get put out. 😬
They don’t CARE....they sleep well at night believe me
@@DarkroomMedia007 she could have filed bankruptcy to try and keep the home in a chapter 13...it would have bought her time at least
The American Dream is just that,a dream, because you have to be asleep to believe it
-George Carlin
Couldn’t agree more.
One of my favorite Carlin quotes, RIP
@@Shannon_Vlogs republicans they want nothing to do withn kids, but once you hit military age now they can train you to be a dead soldier
And yet he was a millionaire
@@jafll141 And yet he had empathy for other less fortunate people's fate. Try it one day.
The US is such a loan-based soceity. I realized when my friends in the US said they bought a car, house etc...it meant something totally different. In my home country, you bought a house or a car means you paid full cash for it. This is why in the US, almost anyone can buy a house or car, when in reality they truly cannot afford it or sustain it.
So true. My friend who moved to USA says everything is on loans. They buy 10 things in a week all on emi
That sounds so scary..
Agreed. My mom 'bought' a 1k computer for my brother. On my grandma's credit card. Meanwhile I saved $600 from working to buy a laptop for school and personal use. At least I own my laptop outright. I can't imagine the kids that go to college every year on student loans they're gonna have to keep paying until they're 50. It's stupid and wasteful.
The worst thing that people can do in the US is, " the payday loans" or get to many credit cards, once you start borrowing or paying with plastic and you are not disciplined to pay your debts on time thats when you get in trouble.
Dats true in india too....we buy anythng only if we has the cash money ....most of the indian dnt use credit cards
whenever someone told me they bought something, the culture today is to ask whethere it is installment or cash. I think the good (or bad) side of being good at numbers, i could calculate in my mind sometimes how much i'll gonna pay installment vs cash, in the end i end up not buying, either the thing is expensive, or i sure heck not gonna pay that high interest that accumulates if i choose installment.
Some people i know are fooled by ads showing low installment pay daily or monthly, sometimes i chimed in that interest is high despite low installment fee to give them another perspective, that low monthly/daily interest doesn't mean that stuff is cheap.
My heart aches for the innocent small children that are packing up. there are too many over priced cities in America. California is very high.
Texas is the next target
Not just America, London, Paris, Amsterdam, people can't live in these cities anymore.
@Tav Ace What about Australia?
Bail out the Banks and GM that's good socialism, but when it comes to helping families that's bad socialism!
War not cheap hobby.. Someone has to pick up the bill and it will not be the decision makers. More $ wars less for Welfare systems/people assistance
buy FORD No Bail out
Fortunately we arent a socialist country. Or you wouldnt likely have the property. Banks & GM provide employment to hundreds of thousands of people. And they can repay through taxes & profits. Individuals are less reliable to repay or change behavior that caused their problem in the first place...
joe fran yes the government don’t care about the ppl they just care about the people’s pocket book
Socialism is bad oughta be a crime
apply for a loan modification from bank of america is like asking a croc to carry you across a river.
The Traveler Perfect analogy! But it’s all the big banks
WOW! now that's bad. 😂
😂 On the money.. On the 🐊
The Traveler that’s the truth. I hate that I bought my home through them!
Bank of America is owned by the Chinese, who ate heartless vultures.
People need to understand that there is NO SUCH THING AS A SECURE JOB in America.
You need to live below your means and understand that life happens.
PREACH!
That probably applies worldwide.
@keecefly funny thing is they are never short on having 100 dollar plus cellphone bills.
@keecefly lol......I have worked for AT&t for over 15 years. I was there when the first iphone launched. Believe me. People pay over a hundred bucks. Unless they are on a prepaid plan. Unlimited starter yes 65 but then add taxes and most Americans go on the Next plan paying an installment on top of their service. No they don't get cheap phones.
@keecefly I know there is but the vast majority of Americans are not responsible with managing money. Just wait until black friday and you will see the so called struggling out shopping. When stimulus checks came out first thing I saw going into Walmart for motor oil was those same struggling people walking out with TVs, game consoles, toys, etc.
you are stupid, just justifying a rigged system.
it should be illegal to put a mother with her kids on the street.
@Choose Freedom why should it be illegal? A loan is not money you keep, leasing is not owning. Education cost money kiddo.
I think they should have helped them find a place to stay, this is unreal
@@liztrainer895 so should they be able to live there for free for ever????? You stop paying your loan , you lose your home!
Until you pay off the full 100% price of the building to your bank or agent from your own money, you cannot call the house your own home. It belongs to the bank where they are letting you stay. Get it straight.
cwmillern: you are right , it is just an illusion of ownership, and the people have to pay rent for the rest of their life to their masters either through mortgage or indirect through taxes , real slavery just with another name.
You need to see the most recent the Bundy ranch, as well as the making of the dodger stadium its property of the united state watch that house get bulldozed by the military U.S land not really yours. Worthless system yet many are blind a true ponzi scheme.
Even if you have fully paid it, you are still renting it yearly. They call it Property Tax
Swagato Barman Roy you think wroung.... Don't pay that yearly property and you will see it is never yours
Agree.
Really even if pay off your home, you have a Deed, a Deed is not a Title, a deed is a contractional agreement between you and the state, county, ect. Really you pay for the House, you get the right to Manage it and pay yrly property taxes on it,, That's All you get the right to stay there, manage it and maintain it & pay taxes..
True...when you die and the Taxes lag the state will take your paid for house.
Paul Drake Jr True we need a better system.
Amy,you could find yourself in the streets one day, life is a merry go round, sombody can fell from it.
@@chrismorring3352 that's true you don't own a fucken thing ... the USA is a corporation corrupt government bankers regulations ..it's all by design to control. ..
I've been telling people for years that the only thing you can outright own in America is the clothes on your back don't get it twisted...
When I was really poor I had 3 priorities. The first was food on the table, the second was rent, and the third was anything else we could afford. When I see families now-a-day getting evicted from a house I see them loading a nice car with all kinds of stuff I could only have dreamed of having when I was in that situation. Draw your own conclusion as to what I'm saying.
They were buying things they could not afford anyway. They were not living within their means
My cousins "broke" broke, broke but have the latest iphones....okay 🤷♀️
I know right. My parents always told me pay rent and lights 1st.
In Dublin Ireland they have a grim saying :- " The rent eats first". Rent comes first in a cold climate where there is a lot of non-fatal but health compromising violence and practices when living on the street. People have been known to skip meals for weeks in order to make the rent because renters are only too quick to evict non paying or delaying tenants in our highly inflated rental market.
Thank you Sir for shared ❤
Fast Forward to July, 2019. I'm hoping that things have gotten better in the past seven years for Kenya and her children. In the meantime, I'll keep this family in my prayers.
Why drag Kenya here ? In Kenya we own homes with no rates or mortgage
Ooh her name is Kenya get it
Pulling the Strings Prayer always works. It may not be a mansion in a hill but GOD provides if you go where he leads you.
@Pulling the Strings Guess you did't see 2020 coming, Praying and believing with working hard works,
@@israelphoenix Amen
If you think your home is yours. Try not paying any real estate taxes for about 4 years. ....
Property taxes are regional, not a federal tax
Yep. You are nailed with a penalty as soon as you miss the payment deadline. Brutal.
NOTHING IS "YOURS" UNTIL THE LAST PENNY IS PAID! "A HOME OWNER " IS A MISLEADING ILLUSION" SECOND ONLY TO COMMUNISM!!!
@@vladimirsteinberg9819 More like Capitalism, you just think you own something and call it freedom.
The home is yours if you don´t have a mortgage. Property taxes are mandatory
and for the benefit of the State you live in. It´s the price you pay to live in the US.
Thank god i not live in the Usa. Government rescue the banks, but who rescue the people...
MesoJevlar They don't care about the people.
They care about them being good obedient 9 to 5 debt slaves. That's it.
NOW THEY WILL AUCTION OFF THE HOUSE FOR PEANUTS TO SOME ISRAELI INVESTER BUYING EVERYTHING UP WITH THE SAME MONEY WE GIVE ISRAEL 100 OF BILLIONS ,I SEE THE SCAM THEY PUT ON US AMERICANS
With almost 50 million immigrants and a population of over 350 million. We are nothing but a number. We are an endless resource that is used and taken advantage of for the betterment of the rich and the government. This country is good at killing people, locking people up and taking their money. Welcome to land of the free.
*Yes, government colludes with banksters whom it consistently bails out with taxpayers' funds. How OBSCENE is that!* ☝😐
This is actually very heartbreaking and scary to watch, I remember this time in the USA, it happened in small town USA too. I remember going to a garage sale and the woman told me, they where in foreclosure and needed to liquidate everything. I didn’t know her but I felt so bad for her situation. I thank God for my little house I bought and it’s not great but it’s my home and it wasn’t price inflated when I bought it in 2016. I live in Washington state, Bank of America is terrible for receiving a mortgage. This video shows another reason not to live in California.
The American dream is and has always been a nightmare for most Americans. 😐
I owe my home.. but the property taxes are slowly going up.. in 3 years it's gone up by $10K. I'm in Texas, we have Californians coming with their millions and buying houses pennies on the dollar.. the Property Taxes in Central Texas were pretty low until recently.
Californians buying houses for 'pennies on the dollar' would LOWER your taxes, as available comps would be less.... local tax board should be looked into instead of blaming outsider investors.
I live in California and I hate Californians
Welcome to Reaganomics. Lowering taxes on the rich means every one else's taxes go way up.
Cynthia Hrdz-Fristo
Texas has no income tax so property taxes are higher than they would otherwise be as that is where they get their revenue (some blue states do have income taxes but still have property taxes higher than TX). So TX is good if you earn a decent income.
Why can the TX govt not lower tax rates so your tax doesn't rise so much? I mean if 3 years ago they could operate with $10k less from you, what are they now spending that money on?
Wow! Many of my family members left to Texas and they are hard working people NOT millionaires.
By the grace of God I was blessed enough to pay for my first home in full, cash. But unless you are a veteran or disabled, you will always owe property tax. No such thing as true "ownership" anymore. It's just mine to pay taxes on until I sell it to the next chump and let him take over.
"The American Dream" alright. Lol
God Bless ✌️
Brooke & Jody Hayes , veterans who are 100 percent disabled don't have to pay property taxes on the first $45,000 of the value of their homes!
Jj If it involves the military, it is most likely effective in all states because federal law governs the military, not state law
As a 100 percent service-connected disabled veteran living in Oregon I only get an exemption of $26,000. from my property taxes. Not much at all considering all the sacrifices I made to serve my country.
This is so sad and makes me very angry at the government bailing out the banks and not the people
Because it profits them more perhaps
@Green Giant hm. Makes sense I suppose
@@marcoAKAjoe The banks were supposed to give out low interest loans to people in payment for the privledge of being bailed out. rewatch the video. They didn't. They just wanted to get back to the way they were before, Nothing changed.
Omg this seems so recent. I lost my job while pregnant in 2009. I thank God for BB&Ts willingness to grant me a modification that allowed me to stay in my home and go back to school, becoming a registered nurse without foreclosure.
I have enormous empathy for the family shown in the clip. From the little boys eating breakfast, unaware are the turmoil ahead to the woman's stare of disbelief, its got to be surreal and very frightening.
Yes , it must be frightening not to get hand outs any longer...
Right. She ran out the clock, not 'they'ran it out. Have another 5 kids- that will help.
Why was she so surprised? She said she hadn't paid her mortgage in 6 years fgs.
She was a renter. The landlord ran out the clock, stupids...
Malcolm X told us that the American dream is a nightmare...
Then live your dream by hightailing it to Africa.
Nas Tayquan : You are a jerk. I and my ancestors back 4 generations, built this nation and I demand my part of the American dream.
@@nastayquan6128 why when black people built this country and the world has depleted the richness of Africa? Lol
Malcolm x was an idiot.
I AM GLAD I DONT LIVE IN AMERICA
I hate even saying this. When you take out a loan you don't get the money from the bank you generate the money into your economy. If you fail to pay the agreed amount you will loose your dream home. Modest living is the way to go. I used to have a house I could cycle a bicycle around in and I did! I am ashamed of this but it's true. Tonight is my first night out of long term homelessness. I am so much more happier. As long as you're fed and warm the biggest challenge is patience! You will be ok. The future is uncertain and the end is always near. But let it roll
I gave up getting somewhere in life years ago- I am just existing until I kick the bucket.
Might aswell buy Bitcoin and hope for the kicked bucket to turn into gold.
same here and unfortunately for my son too...too much greed on housing and pay scales these past 35 years..and im 61...never owned my own home ..just rented due to poor credit all my life..And i was raised in a house
@@susanrubinstein3319 me too … And I agree there's WAY too much greed.
Susan Rubinstein I hate it but same here. I’ve been in an apt forever and I hate it! I feel like I can’t even craft or make money with my hands n get ahead. I need a yard LOL and area to be productive. I’m just waiting to die but don’t have anything that’s killing me LOL despondency perhaps
I never want to buy a house or new car
I did and lost
Lost everything
I got sick and then that's it
I live at mercy of my family
The trouble with buying a house with a mortgage is: what happens to the mortgage if you lose your job????
When I was a boy, many Americans lived in small and shabby houses. But they were cheap, interest rates were low, and you had to put at least 20% down. So monthly mortgage payments were low. 1-2x a decade you were laid off for 6-18 months. The dole helped you pay the mortgage. Having to come up with a 20% downpayment proved that your act was together and that you could be trusted not to default on a mortgage. In the 1970s, savings & loans began giving a mortgage to anyone with a job. Around 2000, mortgage banks began giving a mortgage to anyone who applied for one. This was petty greed, because every mortgage application processed rang the cash register.
Welcome to America, this has happened to most of us.
We have an American dream? Nowadays 2019 it's the van life or tiny homes on wheels. Some third worlds are better off than us
grabitz we live in a class c rv. We have never been happier in life
@@bentrishaleemartin926 That's OK when you get old living out your childhood again with a corvette. How many kids live in your RV? Did you watch the video? What happens if something happens to you what is the wife going to do?
True
@@bentrishaleemartin926 they are nice cars!more comofortable than many house in US
@@grabitz she will get another fool to pay the bills, don't worry women always win.
This is heartbreaking and a moral travesty that the every day common man cannot live in an affordable home in what is supposedly the greatest land in the Country.
So many people with no where to go makes me sad, i cry watching these thanking God for what i have even if it is a !978 trailer, its mine. thankyou Lord for giving me the a roof over my head. You never know when it can be taken from you one way or another.
God didn't give it to you, you got it yourself.
i watched this video cause of my curiosity,, we Filipinos thought America's never undergo this devasting situation. Watching people homeless makes me realize that I am lucky where I leave now. In a remote area where we can raise pigs, chickens, turkey in our farm. We can get and fresh fruit coconut juice in our farm.I feel really sad of this😭😭😭
FilipinaMeets Australian 2019 it’s a lot worse now. The goverment has created the opioid epidemic. Making it hard to get pills you need people are turning to street drugs
Amen.
Amen
So basically we dont own anything the bank does!!!
Right. Examples.
1. You can have a house bought and paid for...BUT you still have to pay property taxes..like forever
2. You can pay your car off...BUT you still have to pay for a tag and renew the license just to drive on the roads that YOU (The Taxpayer) paid for.
Where's the logic in that?
Melanie Cianci pretty much
Ultimately the town owns all property. Taxes. I have no mortgage since 1966, yet I am facing a tax foreclosure.
People making $30,000 given a $120,000 mortgage, do the math.
When I was looking for a house I wanted to buy a 35k house. Where I live you can buy a nice house for under 40k. Mortgage companies will not finance homes with mortgages under 60k. I do not want to be house poor.
Instead I saved my pennies and bought my house for 25k cash. My property taxes are only 600 a year.
@@CoopsZippo Where is this??
@@PM-tc6sl Northumberland/Schuylkill County Pennsylvania. You can pick up a cheap house in any Coal Patch town.
@@CoopsZippo I'm looking to move, how's the job market in the area. What types of jobs could someone get there?
@@V.E.R.O. Depends on your skills. There are blue and white collar jobs here. More blue collar. If you are willing to drive an hour or two to work then there are a lot more jobs available.
People have to learn . The first thing you have to do is pay your bills , even before buying food .
ikr, strangely many people think that they are entitled to live free of bills.
Two well dressed men, kicking out a woman and her children onto the streets. Looks like something from Medieval England.
China is pretty much a capitalist country. Communism in name only.
The men can't help it if the woman cant pay and vice versa.
If I was being foreclosed on I would be out of there b4 the sheriff comes
I love it when bad things happen to people who deserve it
@BPwhistleblower dirt bag.
My house is already paid for. I am very grateful.
Don't let those bastards at the bank talk you into a home equity loan.
Chris Vaughn That won't be happening since my parents own the house and they won't be doing that.
Good..a paid for house is Gold in today's time and the banks know it..so put your deed in a safe place.
***** but I can and will pay the property taxes.
Well if it comes to that point il may have to sell or use it a rental property. But that's 20 years from now
ABSOLUTELY SHAMEFUL Doing this to people America’s homeless is simply wrong no ones helping them ‼️ so glad I’m Australia and Proud 🇦🇺
My ex wife and I lost our home during the 2008 recession, but I can't blame big banks or our government. We were grossly irresponsible with our money. It took me 7 years of working o.t. and paying off all my debt, and I'm happy to say that I've bounced back and now own another home. As far as the bailout goes, I didn't like it at the time but I can see now how it was the quickest way to stop the bleeding. I'm wiser now with money and I still believe in our great country America.....I'm sure Al Jazeera tv will not like my comment.
As soon as your late with a payment, they just don't give a dam. They just want the money, no hearts. I wonder how these people sleep at night. I could never be in the mortgage business. Property taxes are even worse, no money, you're house is just gone.
When you sign the contract, you accept the terms and agreement. There is no difference when leasing or borrowing money from a bank to purchase a vehicle. Borrowing money is not a compassionate business.
Isn't it ironic how many Braindead Americans still believe they live in a free country.
if you know something is wrong a head of time,pack your important stuff get a storage and go
Why do that when you can live for
free for months to a year, until you are evicted and the sheriff boots you out.
You're missing one aspect of this picture foreign non-citizens buying up land and houses in America. Americans can't buy land in China Americans can I buy land in Mexico. Why is that not unilateral. When Chinese lady said "we don't have to invade America we can buy America" and that's right and why is that we can't buy land in China we most likely can't buy land in Iran Iraq and many other countries where they come here and buy land. Number one any one of the countries we consider enemies that we're at war with should not buy it be able to buy land in America non-citizens should not be able to buy land in America. A lot of these predators are Chinese investors. Why can they buy land in America when we cannot buy land there call your congressman make initiatives and referendums in your County's that non-citizens cannot buy land and homes and property on American soil.
Except the reality that your congressman profits from this arrangement so good luck with that!
You are so right i want to cry it hurts so bad why if you know this you mean to tell me our government do not know it so sad how greedy this world is sad
lassus prophetam
Thanks to our government.
Nobody own the land only the house that why you pay property tax
This is one of the easiet way to attract foriegn investment and boost local economy, however there'll be consequences as well, please don't blame Chinese or anyone else, it's your own goverment make it happen. Chinese people are just hard working. By the way, even China allow you to buy land there you probably won't do, because the land price is actually much higher and won't investment sense.
The adults in that family should have been aware that they were going to be evicted, but they just left it. Lots of suffering for the kids could have been avoided. I bet that’s how they’ve always lived their lives and it invites chaos. Love from Australia 🇦🇺
what people will do for money is sick smh
When do we foreclosure this government ?
never lol
you're a spineless nation
Disclosure the banks
The 1950’s house cost $4,800 and the cash deposit was $960. That’s 20%. How many people pay 20% deposit on their home now? Love from Australia 🇦🇺
IM SO TIRED OF HEARING THERE ARE THOSE WHO BORROWED THAT COULD NOT AFFORD IT.. THE SSYTEM SCREWED EM.. RAISING INTEREST RATES. PERIOD! GOT IT?!
lol you sound like you know nothing about rates , dumb irresponsible libards
Interest rates are lower than ever globally
Like George Carlin said:
"The reason they call it the American Dream is because you have to be asleep to believe it"
I will forever be grateful my parents obtained a home sold by the owner herself for only $70,000 in a decent neighborhood. We didn't feel the effect of the 2008 real estate disaster. This is just awful. I can't even imagine what it must be like to evacuate my home within 20 minutes and find somewhere else to live.
I work in a foreclosure law firm and I can tell you the major problem was not that people just defaulted or they failed to put down 20% but the ARM loans where they were paying about 5% for 10 years then the crisis happened and their rate skyrocketed to 10% adding nearly an extra $1000 a month. Then the property taxes went up and in places like Nassau County where the taxes are already 15K a year for a small 3 bedroom cape, it became unaffordable. Some ppl tried to modified their loans to get a lower rate but the problem was the banks made it mandatory for you have defaulted on your loan at least 4-5 months in order to apply for a loan modification. Yes we have ppl who just stopped paying but 80% of the homeowners were blindsided by the interest rate hike and the Property tax hike. Then hurricane sandy happened and some ppl took out second mortgages to fix the damage because alot of homeowners insurance didnt include flood insurance and those loans came from mostly private investors who jumped on the fact that bigger banks didnt want to give these loans out. Now these homes that were foreclosed on are brought by corporations or chinese property investors who then sell the previously 200K homes for 500K. What happens when nobody can afford homes and people just stop buying them.
Thank God I did not migrate to US…..
as George Carlin said: “the American dream....you have to be asleep to believe it”
Sick of that quote in every video
@@marcoAKAjoe A fu@#$&ing men. Tired of it!
That’s why whenever you buy a house, READ the fine print before you give it a signature of approval.
Also do the simple 5th grade math and know what you can afford. Math does not lie.
Fannie Mae, Freddy Mac, Sallie Mae. Unless you own your home outright, it's the banks not yours.
I agree. When I bought my house (took a mortgage), people congratulated me on my new home. My response was "well, what I got is a mortgage, now I need to work to get the house from the bank"
Property taxes still ensure you have no ownership security. It’s never ending.
Yup. When I'm asked do you rent or own I'm like I'm paying the bank for it.
News Flash...You dont own anything you owe money on...
@@rackets7991 News flash even when you've paid the mortgage the house is not yours. Property taxes if go unpaid can still make you homeless.
This happens to a lot of people everywhere. They dont have to give lots of notice to evict you. There are some people know they are behind but will spend the mortgage on $500 shoes.
The American dream of home ownership is just that a dream because its unobtainable for the average working man. How can you buy a home when you live paycheck to paycheck?
Ahhh “predatory lending.” That’s the term. Very fitting.
You cannot sustain an economy with a race to the bottom for wages, but a race to the top for housing sales.
6:12, $4800 for a house in the U.S.A? Wow, you can tell that was a long time ago!
The banks shouldn't loan the money in the first place, know they can't get anywhere to live because of bad credit
heartbreaking those babies being evicted , smh the cost of living is so high , people are an emergency away from losing everything
blame theparents for being a poor
Totally agree with you.
so simple - buy a house when you have the money for this - save money, cut your living space - nobody need plenty of living space - never take a mortgage accept for a study loan - drive used cars, cut your shopping habbits - buy only what you really need
Absolutely.
Great advice.
Why take out a loan for college that isn't dismissed from bankruptcy?
Nopenopenopenopenope...
@Snappingturtle 267 a great percentage of the population cannot pay tuition out of pocket so cash is out the question. college should just be free or not as ridiculously expensive
@Snappingturtle 267 Someone has too much time on thier hands.
I wouldn't wait until the last minute to move out. Move out way in advance and so spare your kids and yourself the great heartbreak of a forceful eviction.
+JAchica11 it's possible they didn't have a place to go.
+scriptorsilentum: Unfortunately that is often true. Thank "w" and his empty declaration that most Americans become home owners. No, he didn't force anyone to buy, but m he created the illusion that everyone could be homeowners. Just wait if the chronic bankruptcy man, trump, ever comes near the White House.
+Bochanable ohgod. please. no.
didn't banks encourage pople to buy mortgages they likely couldn't afford but insisted on variable rate? finding a fixed rate deal each party could live with i'm told was REALLY difficult. i wonder if the banks - spare me, great zeus! - didn't actually "set up" deals to fail...? comments anyone?
scriptorsilentum- is it possible they felt self entitled and no need to pack or get ready to move. Pay the rent!
Banks sell your house before your out.
The real estate people, banks and cops don't give a rip about you. They didn't care about that lady and her young kids.
should be human rights to have a home, instead we are fighting for it in our entire life. A home should be obvious like clean water, fresh air.
Now it is 2019, wondering what happened to the poor people; especially with the lady with the small children.
There all drug dealers now & HIP HOP wanna be's
@@acgillespie racist.
You have to quit having kids you can't afford, for one thing.
She has at least 3 more. Father uninvolved.
@@MBoldman50 Are you people just bitter because your birth rates are low?
The Hispanic woman who's home was foreclosed on shows why it's so important to learn the language spoken by the majority of the country you're in. Even if the nation doesn't has a "official language", there is still a "defacto" language, and this could have been prevented. I can't imagine moving to Russia and trying to buy a house without speaking Russian, or moving to Mexico and not learning Spanish.
+Christopher Digital how many languages do you speak?
+Christopher Digital HI I am Polish and know English. I used to worked in Greace wherby I only knew the alphabet. If there is work you will earn monies with little or no language skills as a labourer.
+Jeffrey Bull That's hardly all that relevant. I agree with him and I'm fluent in three languages myself, two domestic ones and English, despite not even living in an English speaking country.
+Jeffrey Bull One, the defacto language of nation I live in.
+Christopher Digital You're joking. You take the only example of a non-english speaker who has been foreclosed upon in the entire report, and you blame them for the two-faced and predatory behaviour of the banks. You don't blame the victim for the bully's behaviour, there shouldn't be a bully in the first place, and it is helping no one to focus on changing the victim instead of the problem itself.
In Detroit vacated homes, I have seen gutwrenching sadness... FAMILY'S PHOTOS ALLL OVER... FAMILY PICS IN FRAMES STILL HANGING ON THE WALLS
We stayed in a flat that had a rental agreement where rent would only increase with inflation. Then the area became highly sought after and the landlord knew he'd get a fortune for the property. Within two months, we were out, we had no arrears and no complaints, it was just the economy. There were no affordable flats to rent in the area and we have kids, so now we're with the council. Thank God for public housing, otherwise this would have meant uprooting work, university and the children's schools.
Homelessness is not always your fault, economic factors play a big role.
A Bigger Part Than U Think
@Green Giant What do you mean? I don't get any benefits. I am uprooted already and I am in full time work and education.
@Green Giant Yeah, I rent from the council. Still pay rent. Just like half the country.
The first two minute of this video brought me to tears... I love my home country (Jamaica) so much.
Isn't America great. Land of the poor, home of the scared.
Hanging by a thread for years before finally resorting to calling an old 5x8 Wells Cargo utility trailer home just to save a dime for a piece of mind!
America is great! Anyone can own a business. It is so easy to own a home here that over 60% own their own home. America's standard of living is very high. You can tell a great country by how many people what to move there vs how many want to move out.
@@Scott-by9ks how many can afford to move out though? Want to move out & Do move out are 2 completely different things. Besides that, most people do not fair well to change. Also, most that want to move out are those that have enough money to travel the world and seen with their own eyes how people live in different countries. Majority of Americans think going to Hawaii is going to a different country.🤦♀️
Oh excuse me, just seen your statement properly. "Want to move there". Oh, that's all because of the movies & television lol. Or they have vacationed there and forget (or dont know) to vacation somewhere is not the same as living there. 😊
@@lindawilkins9296 people wanting to move to America is because of movies and TV? u can't possibly think people are that stupid...
@@Skankhunt-mv4vd from experience I've met those that stupid and seen them with my own eyes! And tried my best to talk them out of it! Some listened some didnt.
Heartless bankers and judges.
The Sheriff is totally a robot. What if we did the same in healthcare? What would happen to the sick people? Should we tell them, "Hey, since you don't have health insurance then you have 15 minutes to get out of your bed and out of the hospital."
The Sheriff's INHUMANE.
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
-James Madison
Meanwhile... I'm surrounded by arrogance of those with an abundance of money to throw at any problems they might have while I have never had the means to even think about home ownership and currently living in a 5x8 Wells Cargo utility trailer just to save a dime that I can't do anything with.
30 years is a gamble on mortgage loan. One missed payment and boom homeless.
It's not 1. You have to miss several
Ridiculous.. Obviously you have never had a loan of any kind...
No it would be more then one.
And that is exactly what the Banks want. They want people to gamble with Mortgages, the Bankers know perfectly well that people will not be able to pay during the 30 years, Bankers know that people will have issues during the 30 year debt and that is how they make their profits. Sad but true.
@@richardsanchez9190 doesn't matter if you can't pay one, how do you think you can pay several?You also have problems paying other things like water, electricity, municipal taxes, food etc.
Why owning a House should be a Dream is beyond me.. doesn't every human being need shelter?
go build a hut then...
"We got change, chump change." That hit so hard.
That's what you get when people don't work together.
...Houses are cash Cows for banks. ...and guess who is getting Milked?
Nothing is your's till you pay it off, everyone knows this. Cars bikes shoes.. it don't matter. Then you have the upkeep which ain't no joke either. How anyone expects anything to be free is beyond me. Imagine the medical bills that have never & will never be paid off.. credit ruined automatically! These are the facts of life. There is no way to change them no matter where you live. You want something - you pay for it. It's common sense, not common cents.
My brother in law who happens to be disabled is being evicted from his apartment. He has always paid his rent on time and never missed a payment. But the man who recently bought his building wants to renovate it. So he's evicting him so he can renovate and rent it for a higher price. We are trying to get him into elderly assisted living.
That happened to me. Im staying with a friend til I find a cheap apartment.
@@user-rz9wz1bx2l good luck. You will need to have good credit , a big deposit, and proof that you make at least 2 or 3 times the rent.
Tabby Abby
Didn't your brother in law have a lease?
Wish you all the best possible.
He had a yearly lease so once it was up he could be evicted. Sadly he passed away from covid last month anyway 😥
gods plan
What the government is doing to these people is unfair.
Daniel J Maximoff the government is for the corporations and rich
I would never move to California
I don't think I'll ever leave🏖️
@@cloudie8314 👍
Joshua Collins, California is a place to visit. IMO Not a place to live unless you are rich or have an upper middle-class income. Housing is too expensive because there is no land space. I met a lady that came to my church in Oklahoma City she said her house was about a thousand square foot home in California which cost her around $400,000. I thought that was crazy. She said she came to Oklahoma and paid cash for a much bigger house and had lots of money left over. Oklahoma is a great place to buy a nice big home with a big yard really cheap. I think that's because we have a lot of land. The cost of living in Oklahoma is also very good.
@@teresawicks-kq3bq
There is plenty of land in CA. The wonderful weather is what attracts
the people to CA. Lots of Asians are coming and bringing cash and that
makes the prices go up. Also, lots of Russians are moving to CA and
they too come with money. In top of that, this is a sanctuary State,
so our taxes are much higher. Too many illegals getting freebies.
It´s almost impossible to live in Orange County or the Bay Area
unless you have a six figure income, the rest are struggling.
The taxes in California are going ⬆
through the roof (to pay welfare benefits, and food stamps to
single mothers with a bunch of
kids).
But wait, they have all kinds of programs now to help the homeowner like forbearance, loan modification, repayment plan, and then if worse comes to worse they can do a short sale or a deed-in-lieu.
they have plenty of time and they are given plenty of warning to apply for those options if they are being forced out like this it's because they were being stubborn and wouldn't listen and didn't apply for any of those programs or didn't do it right and got angry when they were told that more documents were needed for the application process.
There's so much more help out there for homeowners than there are for renters to the point now where if somebody is being evicted like this it is their fault.
amella 1 THANK you for the most sensible comment here. That lack of awareness, lack of preparedness are the traits that got people in the mess in the first place. Back in the 1990s /2000s when some "banker" put a shiny, amazing deal of a mortgage under their noses and they signed them without so much as reading the details, they were being irresponsible and lazy. Sure the loan offers were scummy, but a CON requires the greed or willfull ignorance of the victim in order to happen.
Not true. You go to court against a landlord, the tenant is probably going to win.
I would not want to buy a foreclosed property. They are in denial. Heartless people.
I would buy it and give it back with cheap rent, possibly rent to own or something.
So sad. If rich people had hearts they wouldn' t need so much to sustain the illusion of their lives.
Save what money? lol....after increasing energy prices, food prices, fuel prices..what the hell is left?
0:04, This is the reality of being evicted; no sympathy by the homeowner! To evict a mother with children (because she can’t pay the rent) is an immoral act!
My neighbor's husband died and she went into the hospital for 10 days. When she got out the apartment landlords gave her a 14 day eviction notice, She tried to tell then that she had filed for her husband;s pension, annuity, and other things and it would be here soon. They kicked her out in the middle of a winter storm. We brought most of her stuff and stuck it wherever we could in our apartment. They we helped her fill out the paperwork she needed and drove her places to take care of some things. When you have been ill and suffered a loss it is hard to get yourself together, She stayed 8 months. I finally asked her to pay 1/3 of the living expenses. She thought it was too much. We saved this lady. I found out that when she moved out she had $10,000 inthe bank and was getting $2,500 a month tax-free. She is much better off than we are. We helped her start a new life for herself. I hve to just let that be ok.
No, expecting a handout is immoral
19:35 the picture and the game of LIFE represents sadness, and the story life.
Only if you're poor
Same in UK ,the last terrace house in a drug area are expensive.
Minimum wage is about £7 then u get taxed on it ,have to pay government tax everyweek to the local council ,if u don't pay they sell the house to get there taxes.
You really have to have your act together
To just keep afloat.
I'm 61 and work 7 days aweek .
I need £500 aweek just for rent ,taxes utilities and basic stuff.
Hopefully things got better for you, we fight till the end.
Come to Indonesia, its cheaper
We have similar problems in England. The word that connects the two countries is , greed. A home should be, to give people a sense of security, raise a family and give working people a decent place to come home to. Financial institutions, speculators , estate and letting agents are the main culprits in the housing mess that is causing so much distress for so many. Until governments enact policies to protect people from the greed of others, this madness will continue !
+michael berry plus allowing foreign investors to buy houses out of control without thinking how that will affect UK home buyers.
Thank you for your comment. I had not thought of that !
Don't forget also in the UK the one-and-a-half million properties of all sizes, private or publicly owned , that are left unoccupied deliberately with no legal means to ensure their occupation.
Can't pay will take it away -horrendous tv show
The entire legal/financial system is one big sting operation.
And align themselves with the entertainment industry. Sports, Eating commercials (promoting bad diets) and Fake News (all sides of the political spectrum)
American dream?? More like an American nightmare. I'm glad I don't live in the US.
Good, we don’t want you here!!!!!!!!
@@rickschucker9697 sweety relax I don't live there. LMAO