The common wisdom here has been to “wait”. The problem with waiting are that the real families that truly want to live the American dream are being told that this is the “market”. It is better to buy now. Well those people have lost equity like crazy over the last 3 years. The only way to combat this type of insidious behavior is to shine a light on it. Let the neighbors know, let each of the lenders know (assuming that they are different) let the FBI know – hell send her a letter that you know, go to other blogs…there are lots of them write a letter to the paper. If more people did this instead of laying down that would become the normal thing to do.
“Normal” behavior is defined by what most people do. In the world we live in, this lady’s behavior is “normal”. Actually, waiting is a choice to do nothing. Meaning that is your choice. Her behavior is unacceptable and she knows that it true.
I think that this “normal” behavior has been encouraged by the real estate industry and that it hurts real people looking for a real house that they can live in. BTW, that used to be the norm.
Oh for those that think that demand for real estate is created by regular people and not speculators I hartily disagree. The confict of interest in assuring people to use mutiple home purchases becasue of leverage is huge. Brokers don’t get paid on the down…they get paid on the whole deal. The business has turned into one of speculation: the “get rich quick menatality permeates any conversation that I have had with any agent over the last 5 years. Now they are telling us that is the deal: like it or not. But they are not talking about who is doing the buying….they are not talking about the huge amount of defaults…they are not talking about how many prime loans are defaulting (at a historic high)….all they do is tell you that prices are up….(or if they are down a little how great of an opportunity you’re missing) and that there are 10 buyers standing in line for every deal. Well even the NAR says prices are still going down………Its a battle of perception that they have to fight becasue they need prices up to keep their standard of living.
Why did 29 brand new condo’s 3 blocks from O’side pier have to go to auction if there is such unbelievable high demand? I don’t know but it could be that speculators don’t want the high carrying costs?
Why does the state have to impose a moratoria on Forclosure?!!!!!!!!!!!!If real estate is such a great investment? Why is there 8k govt rebate if real estate is in such great shape?………give me a frigging break.
