Mq,
I see people going through foreclosure every day, on average 3 a day.
I have yet to meet with one who did not get to where he/she is as the result of a series of personal choices and they all know it.
They perceive themselves as people who have choices, who made choices, and choices have consequences, sometimes unforeseen.
These are people who had the money and the other resources that gave them the ability to buy a house in the first place, but not just any house, a house that they never could have afforded if they hadn't gone into "creative" financing that backfired.
I am not seeing people who are the victims of forces beyond their control.
It reminds me a lot of the dot.com bust. They speculated, and they lost. No speculator expects to win every speculation, every time.
Gamble big, win big, lose big. Gamble small, win small, lose small.
I, and I suspect, you, never would have bought a house we could not afford, hoping that somehow we could flip it. |
