Chilean housing debt


You think vancouver is in a tricky spot for real estate? At least we don’t have housing debt protestors setting themselves on fire. Thats whats going on this reuters news photo.

A man doused himself in fuel and set himself alight outside Chile’s presidential palace on Thursday to protest housing debt. He survived and was arrested.

Television pictures showed the man in flames before he jumped into an ornamental pond in front of the La Moneda palace in the heart of the capital of Santiago. The water extinguished the fire, allowing police to fish the protester out of the pond and arrest him. He was hospitalized with burns over 11 percent of his body, local media reported.

Indebted house owners have staged a series of protests in Chile against what they see as extortionate rates they have to pay to service their mortgage debts.

Thanks Jaime for the link to the horrifying picture.

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the pope
the pope
13 years ago

Hey Markx- yes its for real: here's the photo on yahoo news.It does seem a tad extreme doesn't it?

markx
markx
13 years ago

Is that for real? The Chileans should just suck it up. The Japanese has been in a RE slump for decades, and they seem to survive OK. After 1997, plenty of people in Hong Kong went upside down. I don't see people burning themselves, but I do expect a lot of cry out for government bail out.

WoodenHorse
WoodenHorse
13 years ago

Solopsist:Bravo….Bravo, I doft my hat to you sir.

betamax
betamax
13 years ago

solipsist – LOL!

wannaget2calgary
wannaget2calgary
13 years ago

commenting on solipsist at 1:41 AM …Thanks for the giggle. My day will go well now.

solipsist
solipsist
13 years ago

anon 8:59 – You certainly do have a distinct writing style.To anon. 8:59 -The infinite skies reflect the innocence in your eyes. Your greenish hair flows as the wind blows from the ocean. Waves and bubbles speak in riddle. In far-away forests in the wind, evergreen branches whisper to you. Breeze and moonbeam caress the leaves of your pale ear hearing, birds singing of the twilight dream. You're in a sweet stream of shimmering mosaic of flowers, what a kaleidoscope! you're floating through the sweet reaches of serenity, where time never slips away from your (heroic) palm. When people love mother nature, she in turn returns their love in full.As recited by a man with a ping-pong ball stuffed in his mouth while standing like a brave chimpanzee brother-in-law forgotten now, and paid for tobacco in Matsumoto with Shinkansen ticket… Read more »

bc_cele
bc_cele
13 years ago

the pope said… anon 8:59 – You certainly do have a distinct writing style. Is your point that good and bad things happen, we can do nothing about preventing them, but how we handle them makes us a hero?There certainly are no gaurantees in life, but don't you think there are actions that people can take to minimize risk?I agree with the previous request that you start a blog. I would read it. I don't think anyone else could cover the issues quite like you do. I still haven't got an answer to whether he played football without a helmet. Or maybe I have.

rentah
rentah
13 years ago

RE poem of 2007 (thus far):18 year old(HERO)People over 18 when they decide their future they know what they doing.Life is bychance anything can happen anytime so its not good to make mess thats why he got arrested.Loss or profit sucide and celebration are very close calls.Our attempt to over come from problem make us man(HERO)And response of the year (thus far):the pope:"You certainly do have a distinct writing style."LOL

Contrarian
Contrarian
13 years ago

Who says Manhattan isn't seeing a downturn?http://tinyurl.com/yfce28The article is hilarious. Prices are down 6% BUT fundamentals are still strong. Reminds me of somewhere nearby.

the pope
the pope
13 years ago

anon 8:59 – You certainly do have a distinct writing style. Is your point that good and bad things happen, we can do nothing about preventing them, but how we handle them makes us a hero?There certainly are no gaurantees in life, but don't you think there are actions that people can take to minimize risk?I agree with the previous request that you start a blog. I would read it. I don't think anyone else could cover the issues quite like you do.

Anonymous
Anonymous
13 years ago

18 year old(HERO) People over 18 when they decide their future they know what they doing.Life is bychance anything can happen anytime so its not good to make mess thats why he got arrested.Loss or profit sucide and celebration are very close calls.Our attempt to over come from problem make us man(HERO)

hibernating bull
hibernating bull
13 years ago

Maybe Manhattan RE is being propped up the billions of dollars in bonuses recently handed out? Nahhhh, can't be.In all fairness if I got a bonus like that, I'd buy a house too. Even today.

Uncertain Buyer
Uncertain Buyer
13 years ago

There will be no crash here. I was just informed over at Real Estate talks Vancouver is on par with Manhattan.The poster feels that since Manhattan is not seeing a housing down turn then Vancouver won't either. LINK

digi
digi
13 years ago

I wonder if that will happen hereI doubt it. Even when the market crashed by 50% in the early eighties I don't remember anyone setting themselves on fire. We're all far to Canadian to do anything so drastic, besides its only money (well, and shelter I guess)

Gianni33
Gianni33
13 years ago

RUN FOR THE HILLS!!http://vancouver.craigslist.org/rfs/257182889.html6- presale condo assignments in Richmond B.C.5- 1 bedroom 1-2 bedroomcompletion Feb.2008.Only 10% downpayment until closing in Feb.2008$500 assignment fee. <a href="http://www.lotusliving.cawww.lotusliving.ca<br />Building sold out.Starting $315,000.Buy all 6 and get a great deal.All offers looked at.

Anonymous
Anonymous
13 years ago

ouch.

homestyle
homestyle
13 years ago

Now that's a hot real estate market…

patiently waiting
patiently waiting
13 years ago

I wonder if that will happen here after people who bought condos for $500K see them depreciate to $300K…and then find out they are poorly constructed mold farms, leading to further depreciation to the point where nobody will buy them…then get sick and lose their jobs…and then have the bank clamp down on them. More than the debtors will be burning.