[quote=SD Realtor]CAR that is a difference in perception.
You hear Romney say investors and IMMEDIATELY you equate that statement to rich wealthy people.
I am not a rich wealthy person yet I AM one of those investors who purchases property for rent and have done so for flips. Many MANY people I know including several who are on this website do the same thing. They are not the same rich wealthy who you love to vilify, they are middle class scrubs just like me.
Your perception of Romneys statement is
” he’s wants the wealthy to benefit at the expense of regular people. Let him burn.”
My perception of Romneys statement is
“tax money should not be used to backstop wealthy banks and wealthy investors who hold the paper on the original loan”
So who is correct?
Also I think it is safer to say that important part of the statement is to let them foreclose. What happens after that, whether they are purchased for cash at trustee sales or put on the market for ANYONE to buy is not consequential. The important part is that it is not the taxpayer who is on the hook, and the overall market is not manipulated.
Seemingly all of this is lost most likely because of your perception of Romney.[/quote]
SDR,
The “investors” who have been getting the deals that have not been available to the general public do tend to be wealthy enough to join investor groups who are buying up multiple liens or properties behind closed doors — sometimes, at 20 cents on the dollar, or less.
With all due respect, though you might not consider yourself “wealthy,” you are better off than most working people who are just trying to buy an affordable house in a working-class neighborhood. It’s why you’re able to “invest.” Mind you, I also belong to this group and have seriously considered flipping or investing in rental properties, but have tried to refrain from doing so because I don’t believe it’s the right thing to do. It’s difficult because that IS the game that’s been shoved down our throats (asset price speculation as the most “favored” way to earn income), and in order to keep from going under, we are all forced to play the game. I’d prefer to see a system where work is rewarded over speculation, but that’s just me.
