justbought, I think you may not have read too many of the older threads but you have made a classic faux pau, one which is repeated every few weeks and answered by the majority of the regulars. My advice, remove this site from your favorites, get a flashy thing from Men in Black and erase your memory so you forget the website name. Coming back to see the replies will only hurt your feelings, not just because of the attacks, but because the cogent arguments made by some highly intelligent people will send you reeling and realizing your own finances are in trouble now.
I’ll throw my answer to this ideology in first, believe me it will be of the more kind you will read.
I root for a small crash in the R/E prices, let
s say 50% or a return to 200/2003 pricing. I don’t root for me I root for the young couples who were priced out in the last few years. The college graduate couples, having children and raising them in apartments. Those who have worked and saved like their parents told them to but the prices went up ten times faster than they could save. The young teachers, police and fireman who leave this part of the country because they refuse to contribute to society, a society that they cannot take part in personally. The resons this all happened to them was not because they didn’t earn it, it is because the greedy squeezed them out and soon they will be able to come back or live the life they were promised and worked for. The middle class was made into the working poor by “creative” financing and people buying what they couldn’t afford. Some profitted and sold at the right time, in reality they were stealing from these very same families you champion. A decline won’t take money from them, the person who sold to them did. It will hurt some in order to bring balance back to the universe, but the masses will benefit. I’m sorry where, were the news stories for them, where is your pity for them. I got out of college more than 20 years ago and was welcomed into a career and a modest home was in my reach, that needs to come back.
There is so little time left, make up your mind, check the thickness of your skin and decide if you can handle it because some of my friends lack my…decorum.
