“There is a bit of an uncomfortable-ness that has folks on this web site cheering every down side of the American economic indicators, and expressing feelings of happiness when the real estate and other markets start to crash”

Cheering every down side?!?!?! You mean like cheering the fact that the dollar has declined almost 10% in a year?? I sure as hell am not cheering that. I will cheer when I see some douchebag realtor or mortgage broker who has screwing people for the past 5 years get their comeuppance. Unfortunately, people are going to lose their homes…nobody was complaining on the way up were they? Were they? No.

Beachlover,

Do what you have to do and try not to be emotional about. Try not to rationalize everyones comments and posts and be sensitive about it.

I am not in defense of the people who posts in this board, but you have to be objective when you join blogs like this, nor just with everyday dealing with people…

I’ve been learning a great deal from this site. Take it for what it’s worth. Toughen up!

guy where in the hell were you the last decade when houses went up 300%? That is the real problem not anyone cheering that housing is getting in range to buy. Wake the hell up.

I sympathize with you beachlover, as I have been bashed in a recent post here by JWM for simply voicing my frustrations as a renter. Seems like many of the people here (not all) rejoice in people’s misery and gloat when market conditions prove them right. And some feel offended by someone like me who was fortunate enough to sell and put their money in cash. I’ve learned in life that the little people are bothered and inwardly jealous of other peoples’ success, while the smart ones ask questions and learn from their accomplishments. Got a feeling you’re in the latter group.

beachlover, don’t fret I won’t bash you because you and many other readers fear entering the ring and because you didn’t ask some question that could be answered in the primer I will extend some courtesy.

About once a month we have someone come in and express their disdain for our callous reaction to the financial ruin of others. I think you will find the majority of the regulars are charitible individuals who also care about their fellow man. That said, you cannot possibly take the side of the overextended buyers. For every uneducated, unsophisticated buyer that had no idea what they were doing I will find you twenty that were greedy, lived beyond their means and even told others to do the same. You didn’t and now you need to sell your house and buy a larger one. It doesn’t matter if you get less for your home, you will pay less for the next one, therefore you are immune to the market moves. Even better, you will have a lower tax basis on the new one so you actually win. Your desire to have pity on people who are being foreclosed on is flawed and biased, you benefitted from the greed of others, raising your value, even at today’s prices if you sell you are ripping off some victim who buys from you, they should pay half what you think your house is worth. You are stealing their kids college money. This isn’t an attack on you, you didn’t plan it and it’s not your fault, but you are doing it. From your perspective you can find victims but there are many more victims that aren’t getting any media attention or sympathy from you. Those young families or college graduate couples who see that they will never be able to afford their own home, who weeps for them. Well, I do. I supervise many of them, who went to school, played by the rules and work very hard. At every point in history someone in their situation and point in their career could afford a home and even raise a family on their income, except for now. I root for them, they aren’t greedy and most of them refused to forgo food in order to own a home. Some have postponed having children while others give up some things we might consider neccesities in order to save for a home, only to see prices rise exponentially faster than their savings.

Over the last five years, carelessness has been rewarded, while prudence was punished. The table has turned and I am supposed to feel sorry for the victims, sorry, can’t do it. The only reason to take an interest only loan is if you are betting on appreciation. Bets don’t always pay off, if you can’t afford to lose, don’t play and for god sake don’t ask for my pity if you lose. Don’t ask me not to say I told so, because I did and now I will.

I also don’t hang out in casino parking lots and feel bad for people who lost money even thought they thought they would win. I should, at least those people don’t drive up the cost of living for young families.

I am off the soapbox now, welcome aboard, glad to have a new face around here and do not buy that new house until yours is sold and the loan is funded, live in a hotel or your car if you have to.

“I sympathize with you beachlover, as I have been bashed in a recent post here by JWM for simply voicing my frustrations as a renter.”

No, I bashed you because your post was arrogant and foolish.

JWM, it’s people like you that give this fine site a black eye. I’ve read your comments on many threads and you exhibit an arrogance and insensitivity that is second to none. I nominate you for Professor Piggington’s dunce cap.