With home prices falling one would expect Americans to be scoffing them up in order to insure their piece of "The American Dream."
They aren't. They can't. And it has nothing to do with their credit rating either. The cost of purchasing a home and the American income is not coming together. The cost of living in regard to transportation is skyrocketing and American incomes, especially disposable income, is shrinking.
There is something very, very "W"rong with this picture.
Home contractors, such as door and window manufacturers like "Champion," are exploiting every opportunity that walks into the showroom door. They don't care whom you are or what you do for a living, if you have a home, they will sign a contract to finance work to be done to that home realizing there is probably some kind of equity to insure their business' income.
They are hungry and desperate. They don't care. One of the most vulnerable members of society that own their homes, many times, without an existing mortgage are the elderly. They have equity. So, roofers and siding contractors are making house calls and pouncing on any person that walks into the showroom for a maximum sale at any cost. I know. It happened to my mother, if I hadn't stopped a 76 year old widow. If these businesses can't survive without exploiting people that can't sincerely pay for their product and sincerely don't need it, then they should not be in business.
The housing market is grossly diminished in the USA from the sheer fact there are too many houses, not enough qualified buyers and certainly a growing number of Americans unable to even achieve a down payment on shrinking salaries and increasing transportation costs.
