Funny thing about people looking for miracles, they seldom get them. Whenever someone inserts, “by the grace of god,” you should replace it with, “Suzanne researched this.” Either that or the person saying it is about to royally screw someone else. This applies to life in general not just RE.
This thread is interesting only because it has been so widely publicized by the RE bear community. Its been hacked to death on housingbubbleblog.com There is alot more of this to come and when I read his reasoning for why he became an investor I took a step back.
My first question is, why does he have four kids? With a planet full of people that in itself is a bigger mistake than losing some money in the RE market. Second is, if you are going to be an investor you need to learn about due diligence, otherwise its gambling.
Ultimately I feel some sorrow for the guy, but not enough to hope he gets out from under it. Unless alot more people like him feel alot of RE denominated pain, I ain’t ever going to be able to afford a home.
