Right now my wife is holding a hatchet to my throat cuz another property we tried to lowball in Scripps got scooped up… My tenure on this planet may be short term…
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I always find it bizarre when people come and flame each other in posts. It is so darn early in the cycle that I don’t understand why it gets so distasteful sometimes. Most people here are civil even in disagreement. Personally I do not wish bad things to happen to people. However I think most people would agree that more people would benefit in the long run for the housing market to adjust then not to. I don’t think that a subsidized market is healthy. Whether that market is subsidized by artificially low lending standards, or the feds bailing out foreclosures it doesn’t matter. I think fiscally responsible people make for better homeowners, take better care of the property, and provide for a more stable neighborhood. We have already seen that rampant markets result in a certain brand of instability in neighborhoods that can be characterized by flippers, and other neighbors that live paycheck to paycheck. I also do not buy into the fact that people who get foreclosed upon are out on the streets. I personally know of two flippers and another mortgage broker who lost homes. None of them are out in the street, they are all doing fine. I don’t wish for bad things to happen to people, I wish for the market to be where it realistically should be.
