[quote=punstress]I don’t know what reality they were living in, but by March 07 when the story begins, the bubble was already bursting. I remember that being the time when I was following Casey Serin’s blog. Certainly in Riverside County, the market was already in decline.
But there were many eternal optimists who thought themselves geniuses for picking up bargains at 5% off before the “inevitable” upturn. I’m sure that’s why this family bought the house in Murrieta, instead of just renting, since they’d only occupy it until the custom house was built. They could not have planned to make money on it as a rental because rents could not possibly cover inflated bubble prices. They were planning to flip; the article says as much. They must have thought the housing crisis only applied to other people.
How on earth they thought they qualified to own more than $2 million worth of real estate without a little hanky panky on the application is beyond me. But then again, they’re still in dream land, thinking there’s some savior who can keep them in a million-dollar home with a zero income. Meanwhile you and I are paying to keep their lights on, and we’re probably paying to keep their children fed, too.
Obviously from Lisa’s rant, she is a little short on education. Not that real estate agents have ever needed to know how to spell or write coherently; it’s the perfect career for the minimally educated.[/quote]
Punstress: First off, great handle! Second, this crude little herd epitomizes all that’s wrong with contemporary America: Entitled, uneducated, fecund “victims”.
Lisa’s screed is all the more funny because it was apparently written without any sense of irony whatsoever. Forgetting the 8th grade grammar and syntax for a second, what is screamingly obvious is that Lisa and her vile brood of brigands are clearly “owed” their manse and no shadowy coven of evil banksters will deter them from occupying it.
The Daniels are of the same insufferable ilk that during the run-up of prices were bloviating to anyone within earshot how smart they were and that they would make a fortune in SoCal RE, just watch! I sat through Little League and Pop Warner games listening to the same harangue from some mook from Temecula or Murrieta or Romoland, expectorating about his 4,000sf ancestral castle in some cookie cutter neighborhood and how it financed his SUV, BMW (for the augmented, botoxed, big haired Stepford floozy), Jet Skis, RV and pool/spa/cabana setup in his postage stamp backyard and would also cover his retirement, second home in Mammoth and his kid’s college fund.
Now that the bubble has burst, every one of these geniuses is crying foul, or, like Lisa Daniels, claiming some nefarious plot that has “victimized” her and her family. I would think having a passing familiarity with elementary school arithmetic would have saved them both considerable money and heartache.
Grow up, get over it and move on. Join the rest of the adults and realize that life ain’t fair.
