Couple of points… PS and others who don’t have cable. These shows are very entertaining. I think that they do a disservice by not displaying the outcome and I also believe they are not portraying the amount of time and effort it takes to successfully rehab a home. Again though they are very entertaining.
I think inhibiting free markets is not in the best interest of our country. I think that if people are smart enough to take advantage of market conditions, INDEPENDENT of what that market is, then more power to them. Lots of money was made in speculation and now lots is being lost. Good for the winners and tough luck for the losers. Why do you guys want to restrict others who did well. Personally I am jealous and envious. I wish I would have taken the risks to buy a few homes in 2001 and spin them but I didn’t. So if banana’s shot up to 5 bucks a pound would we limit people who speculated on them? Would we say that nobody can buy more then 6 bananas a week or prove you have a large monkey at home to justify that consumption? That no you cannot buy 200 bananas now just to sell them at 6 bucks a pound next week. We need to make sure everyone can buy bananas. (I know this is a ridiculous analogy)
Don’t we have an entire stock market and futures system that is based on speculation?
I am sorry but I don’t buy into the morality issue because I don’t see it? Perhaps many people who were priced out of the market are VERY HAPPY that they didn’t buy now. Perhaps they could have relocated to a cheaper area as well. Perhaps they simply could have saved more money and continued to rent.
I think that limiting opportunity based on a “moral” issue does not work in a free market economy in the long run. Intelligence, and patience, and not buying something you simply cannot afford are what will ultimately work out for you.
