“Places that have established owners with alot of equity will ride it out pretty well… to the frustration of people like me who want to live there.”
implied to you that I was wishing people ill will.
The statement is/was meant to imply that the neighborhoods that I want to live in have experienced little depreciation nor have they experienced many defaults. If you have read my postings then you know I have a family who DESPERATELY wants me to buy a home AND that I have submitted lowball offers in the past few months. You would also recall in my postings that I have indeed said that if you can afford to buy and you can afford to ride out the depreciation cycle that you should go ahead and buy. Furthermore I believe you also have read my postings on what I believe to be immeasureable (monetary wise) factors that are achieved by home ownership.
I am also puzzled on how you thought that I was implying that those who are well established should fail. Dean my whole point was those who are well established will not fail which is exactly why I believe some neighborhoods will hold up. They will simply ride things out because they don’t have to sell. They have equity, they have not selected risky loan vehicles, and they are stable homeowners.
With that said, if I implied that I would be happy by pain and suffering and misfortune upon people, I am sorry. However I will be happy for a market correction because it will be good for the market, and it will benefit me personally so that I could afford more home in the few neighborhoods that my wife and I agree on. I am a renter and I am bitter I didn’t buy more property when I could have and that I am priced out of where I want to live right now. I still own 2 rentals as I recently sold one of my others a few weeks ago. Again though, I do disagree with you about the statement in your posting about “taking a chance” regarding homebuyers.
