The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (161071)	10/29/2008 8:34:41 PM
From: James Hutton	Read Replies (6) of 306849

So I finally give up: 1. I have tried to build equity in my house. When I've moved, I've taken nothing out and rolled it into the next house. Never had a home equity loan. If I can't pay for it, I'll have to live with the marital consequences. 2. I pay off cars and drive them till they die. 3. I pay off credit cards every month. 4. I haven't used meaningful margin (except to go short in amounts well under total equity) since early 2000. 5. I've saved for a rainy day. 6. Until now, I've believed in a quasi-free market that would weed out idiots and those who made bad decisions. And now I'm paying for all these geniuses who have bigger houses, bigger newer cars, loads of debt, lots of margin, no savings, and only believe in privatizing profits and socializing losses. I used to only get irritated about those "we'll get the IRS to forgive 90% of the back taxes you owe" when I get an annual penalty for paying all of my taxes on time, but not in the right proportion. Now that's way down on the list. I'm past mad. You can't win.

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