Just my opinion here for everyone, I, like alot of you, sold my real estate holdings this past year and dodged the proverbial bullet. I broke even on the properties financially but the stress and sleepless nights that I had for three months were not fun at all.
I will be fortunate on one hand in a about two years to be able to purchase a home the sane way with a lot of savings for reserves and a substantial down payment.
The flip side of this coin is that there are people out there, family members, and friends, that will get badly hurt in this market both financially and mentally over the next few years.
They made a poor decision and will pay dearly for it. I think it right and mature not to glory over the misfortune that will be coming to them but rather try to support them through this downturn.
We would expect the same from them if we made poor decisions for whatever reason and were living through the consequences.
I don't think it was right for people to brag to renters about all the money they made in the hay day and I don't think it now justifies us in a more fortunate position to spite them as homeowner's who are caught in the downturn here.
We should give them sound and sober advice if they ask it of us, and that is all we can do….
Let's face it recessions affect everyone in one way or another.
