[quote=paramount]I wanted to get in the mind of the schemers of the Real Estate world, the very people who turned real estate into a market not unlike the stock market, where you buy a house low and sell high just like a stock 4-6 years later.
The same scammers who are as responsible as the liar buyers in decimating the only asset I really had – my house.
I figured I better start learning how these schemers operate, so at least next time I won’t be such a fool.
I would say 80%+ of the piggs on this board fall into the category of schemers IMO.
For the Love of Money…that’s what drives these schemers 24/7/365.[/quote]
That’s a bit harsh, paramount.
We have been bubble-sitting since 2004, but not because we wanted to “buy low and sell high.”
I bought the original house as a single person, and after marriage and a couple of kids, we outgrew it. We looked around for a slightly larger house in an area closer to my husband’s work, and were blown away by how widespread the bubble damage was (IMHO, the damage was on the way up, not on the way down). Our only option was to sell and rent, as we were not going to become FBs and end up like everyone else who over-leveraged to get into some crappy house.
Buyers **chose** to overpay. This cannot be emphasized enough. The fact that they had the govt and the REIC pumping them full of BS certainly added to the problem, but people like myself (not to mention the tireless bloggers like Rich who were putting in lots of time and effort for free) were trying to **warn** others about the bubble.
We have been very vocal about it from the very beginning. Those who bought at the top absolutely **chose** not to listen — and I cannot begin to tell you about all the arguments we’d get into with friends, family, co-workers and neighbors about this. The information was out there.
