reply to post by the owlbear
anyone who bought a house within the last five years deserves what they got because its survival of the smartest--i.e. death to the retards (in a
anyone stupid enough to buy into the crap about "real estate always goes up", "they don't make land anymore", or my favorite that a real estate
agent once said NO JOKE "your house is your atm"....
smart people noticed:
1.) what must goes up-----must come down in an economy such as ours
2.) when home prices were going up PAY kinda wasn't..ie., who is gonna afford the payments?
3.) anytime there has been A HUGE INFLUX OF IMMIGRANTS.. the economy plummets!! historical fact
I knew home prices were gonna come down. i worked as an electrician (then pump engineer designing water and sewage systems) in socal building
homes,schools, highrises, hotels, etc.. mexicans keep FLOODING in, pay kept GOING DOWN.. interest only loans, $300,000-350,000-then 400,000, then
480,000, then 550,000, then 650,000 for a house.. what rocket scientist didn't see it coming?
factories were CLOSING or bringing in WAVES OF MEXICANS for HALF THE PAY!!
DOTCOM bubble should have been a learning experience..what a feeding frenzy always leaves in its wake? NOT MUCH..
if noone was STUPID enough to take out the loans then what would have happened?
ah yes....Lorenzini suckered many into becoming DONKEYS, even pinocchio was at first, HE WAS THE ONLY ONE who caught on..
everything in america is geared towards th 80% in the IQ bell curve who think they are smart, but really are not, and therefore fit the old adage
"just enough brains to be dangerous"...
i bought my house in 2009, after waiting, warning my co-workers who thought i was "crazy" or "just being negative" and paid HALF. of its asking
price!! woohoo for many like me.. too bad we have to work with idiots who got scammed by their own lack of a working brain though.