Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (54046)	7/30/2006 4:43:46 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 116555

Those people are greedy fools. If you do the math, it's perfectly clear. They paid $433K for the house last year, including improvements, and are whining because they can't get $650K now. They also took out piggyback mortgages, probably no money down ARM's, so they still have most of the $180K windfall profit from the sale of the first house, plus any equity they had built up. All they have to do is knock the price down to $583K and unload it for a $150K profit in one year. I hate to say it but I find myself hoping they are forced into bankruptcy. The level of greed and foolishness of those people is so high that it would be poetic justice if they lost everything and had to start over. They probably thought they were genius's as they were digging their own financial hole.