[DvlsAdvc8]

It's sad anyone would feel happy to be vindicated by others folly.

In truth, I think this thread is only an example of someone who spent the last few years pissed off about being priced out of an area and is now giddy that those who priced him/her out are now suffering for doing so.

This isn't someone happy for responsibility - because for the most part, even he/she is footing the bill for the coming recovery (tax bailouts galore), but rather someone who is happy to be avenged.

Karma has this strange way of winding its way back to negative intentions - both to those who wanted to brag about their house, and those who want the braggers brought down to earth.

[JohnVosilla]

Originally Posted by rusty78

For the most part Muggy is right...for the people that are hurting the most are the ones that over extended themselves to buy a house that they could not afford in there best day...suckered in by those low rate adjustable mortgages...and when the bottom fell out and the interest rates jumped...we all got screwed......the same thing happened in the late 80's when the housing market collapsed...only this time it is worse...

It appears that the greedy few put it to us all...for the rich can still afford what they want...and the rest of us get stuck paying for those who can't......

In Florida for the most part the single family home market remained flat for a few years after late 80's bust. The crash was in condos and commercial RE.

[mango23]

Originally Posted by Muggy

Why is it heartbreaking? Just move into a rental. It's not that hard, you put your crap in your car and go to one of the many foreclosure-friendly complexes offering a free month's rent; they're everywhere. It seems like a great time to walk away since there is no social stigma to it anymore. Housing is crashing and there is nothing to do but wait for it to bottom out.

I take joy out of all of this because I am a responsible, prudent citizen that will benefit from living within my means. Any municipality would be grateful to have a stable person like me on their role. For every tax deadbeat, there is a police officer whose livelihood is at risk. I say get the deadbeats off the tax roles and put a responsible owner in there. Foreclosure is a good thing, see?

If you are so smart, why didn't you profit from the boom? I sold one property for 5 times what I paid for it just a few years earlier. You are not waiting to make an investment, you are waiting to buy something cheap that will never go up in value for many years if ever. Meantime making mortgage payments, paying insurance, taxes and so on in a dead end investment. How is that smart?

[mango23]

Originally Posted by DvlsAdvc8

It's sad anyone would feel happy to be vindicated by others folly.

In truth, I think this thread is only an example of someone who spent the last few years pissed off about being priced out of an area and is now giddy that those who priced him/her out are now suffering for doing so.

This isn't someone happy for responsibility - because for the most part, even he/she is footing the bill for the coming recovery (tax bailouts galore), but rather someone who is happy to be avenged.

Karma has this strange way of winding its way back to negative intentions - both to those who wanted to brag about their house, and those who want the braggers brought down to earth.

This is just a guy who is an example of "Misery likes company". He could afford to buy anything and make a profit when it was there to make and now takes comfort in seeing others as miserable as he is. He was a bust out before and still is from his own words.