A couple of points, since I originated this car thread:
This is not about personal responsibility. Yes, everyone has a personal responsibility to read the fine print and do their own due diligence. I am talking about the ethical obligation people have to tell the truth, especially when such large sums of money are at stake.
From a regulatory standpoint: You go into options trading and you are forced to sign all sorts of disclosures that you know you can lose your shirt. Why aren’t realtors forced to state: “This is a risky investment and may lose value. Because of your leverage, you may lose substantially more than your down payment.” Other kinds of brokers have tremendous liability for any insinuation that stocks, commodities, or currencies will increase in value or do not present risk. Why won’t the NAR be pilloried for what has happened?
But the real point I figured out: It was not that long ago that there were widespread riots in this country. Recall the anti-establishment violence of the 1960’s. Noting my own anger at the realtor, it occurred to me that I am probably not unique; in fact, I have much less to be angry about than the family being broken up as it loses its home.
I am not saying it will happen, but I will not be terribly surprised to see realtors’ offices, and banks, burned.
