Lessons From the Foreclosure Front Lines
A recently transplanted New Yorker named Michael Houtkin won the bidding on a one-bedroom condominium on the outskirts of Boca Raton, a few blocks from three golf courses, for the incredible price of $30,000. Things were almost being given away, he said later…The glut of foreclosed homes creates a self-reinforcing cycle. Falling prices lead to…
It is not a question of some asshats coming and pricing people out of neighborhoods. It is a culture of idiots who thanks to the help of the government and banks started a cycle of low interest rates that allowed real estate brokers and home flippers to inlfate the home prices and not the home values beyond what a smart person would value a home.
NAR chief economist Lawrence Yun said, “Every word out of my mouth prior to this moment has been a lie. I lied during the bubble. I lied during the bust, which is worsening as we speak. I’ve actually mastered the art of sleep lying.”
Oh I don’t feel I am entitled to anything I just know that I have a credit score of 765 and I don’t own a home while some people with subprime mortgages refinanced and still want more money from my tax paying hieny. No handouts for me none for the free loaders. I will be glad to join the long list of forclosed homeowers.