Just wondering where all the “Bring it on people” are at

[NotCranky]

Rockemsock, I wasn’t thinking about your scenario from an “I am so rich why would I bother perspective”. Like you, it is just something that would not appeal to me now matter how many people did it. Still, I think wanting to trade places is probably a case of the “grass is greener on the other side”, moral compunction aside.

[jpinpb]

It’s wrong and I know it, but I’m sick of all the bailouts and I’m getting the “can’t beat them, join them” attitude. They bucked the system, morals aside. We will be paying for it, your kids and grandkids and great-grandkids. The magnitude is greater than anyone thinks or knows and continues to increase at every turn. I’m so disillusioned w/everything and very discouraged.

[jpinpb]

It’s wrong and I know it, but I’m sick of all the bailouts and I’m getting the “can’t beat them, join them” attitude. They bucked the system, morals aside. We will be paying for it, your kids and grandkids and great-grandkids. The magnitude is greater than anyone thinks or knows and continues to increase at every turn. I’m so disillusioned w/everything and very discouraged.

[jpinpb]

It’s wrong and I know it, but I’m sick of all the bailouts and I’m getting the “can’t beat them, join them” attitude. They bucked the system, morals aside. We will be paying for it, your kids and grandkids and great-grandkids. The magnitude is greater than anyone thinks or knows and continues to increase at every turn. I’m so disillusioned w/everything and very discouraged.

[jpinpb]

It’s wrong and I know it, but I’m sick of all the bailouts and I’m getting the “can’t beat them, join them” attitude. They bucked the system, morals aside. We will be paying for it, your kids and grandkids and great-grandkids. The magnitude is greater than anyone thinks or knows and continues to increase at every turn. I’m so disillusioned w/everything and very discouraged.

[jpinpb]

It’s wrong and I know it, but I’m sick of all the bailouts and I’m getting the “can’t beat them, join them” attitude. They bucked the system, morals aside. We will be paying for it, your kids and grandkids and great-grandkids. The magnitude is greater than anyone thinks or knows and continues to increase at every turn. I’m so disillusioned w/everything and very discouraged.

[patientrenter]

jp,

I agree with you. I too saved and refused to pay a ridiculous price for a home. I was completely blind to the possibility that I didn’t really need to buy the house. I could have bought, very cheaply, a call option on the house, by borrowing all of the purchase price.

In retrospect, what I should have done was buy a new house every year of the bubble (without selling the older houses), using none of my own money. As the older houses showed big enough appreciation, I’d sell them off and pocket the gain. If and when house prices start to go down, I sell them all off. The last one or two show a loss, but I just get a short sale, or mail back the keys, or get a bailout on those.

I could have made around a million dollars net, without even trying.

It is offensive to me that this was made possible, and even more offensive that our government is using my taxes to subsidize homeowners, thereby continuing this madness.

I absolutely disagree with the idea that we have to throw money at homeowners to “save our economy”. 90% of what’s going on is just a way to continue shoveling more money at homeowners, under the guise of saving our economy.

I guess, like you, jp, I am a little irritated, and disappointed that I live in a society where people raised to spurn free lunch schemes get shafted.

[patientrenter]

jp,

I agree with you. I too saved and refused to pay a ridiculous price for a home. I was completely blind to the possibility that I didn’t really need to buy the house. I could have bought, very cheaply, a call option on the house, by borrowing all of the purchase price.

In retrospect, what I should have done was buy a new house every year of the bubble (without selling the older houses), using none of my own money. As the older houses showed big enough appreciation, I’d sell them off and pocket the gain. If and when house prices start to go down, I sell them all off. The last one or two show a loss, but I just get a short sale, or mail back the keys, or get a bailout on those.

I could have made around a million dollars net, without even trying.

It is offensive to me that this was made possible, and even more offensive that our government is using my taxes to subsidize homeowners, thereby continuing this madness.

I absolutely disagree with the idea that we have to throw money at homeowners to “save our economy”. 90% of what’s going on is just a way to continue shoveling more money at homeowners, under the guise of saving our economy.

I guess, like you, jp, I am a little irritated, and disappointed that I live in a society where people raised to spurn free lunch schemes get shafted.

[patientrenter]

jp,

I agree with you. I too saved and refused to pay a ridiculous price for a home. I was completely blind to the possibility that I didn’t really need to buy the house. I could have bought, very cheaply, a call option on the house, by borrowing all of the purchase price.

In retrospect, what I should have done was buy a new house every year of the bubble (without selling the older houses), using none of my own money. As the older houses showed big enough appreciation, I’d sell them off and pocket the gain. If and when house prices start to go down, I sell them all off. The last one or two show a loss, but I just get a short sale, or mail back the keys, or get a bailout on those.

I could have made around a million dollars net, without even trying.

It is offensive to me that this was made possible, and even more offensive that our government is using my taxes to subsidize homeowners, thereby continuing this madness.

I absolutely disagree with the idea that we have to throw money at homeowners to “save our economy”. 90% of what’s going on is just a way to continue shoveling more money at homeowners, under the guise of saving our economy.

I guess, like you, jp, I am a little irritated, and disappointed that I live in a society where people raised to spurn free lunch schemes get shafted.

[patientrenter]

jp,

I agree with you. I too saved and refused to pay a ridiculous price for a home. I was completely blind to the possibility that I didn’t really need to buy the house. I could have bought, very cheaply, a call option on the house, by borrowing all of the purchase price.

In retrospect, what I should have done was buy a new house every year of the bubble (without selling the older houses), using none of my own money. As the older houses showed big enough appreciation, I’d sell them off and pocket the gain. If and when house prices start to go down, I sell them all off. The last one or two show a loss, but I just get a short sale, or mail back the keys, or get a bailout on those.

I could have made around a million dollars net, without even trying.

It is offensive to me that this was made possible, and even more offensive that our government is using my taxes to subsidize homeowners, thereby continuing this madness.

I absolutely disagree with the idea that we have to throw money at homeowners to “save our economy”. 90% of what’s going on is just a way to continue shoveling more money at homeowners, under the guise of saving our economy.

I guess, like you, jp, I am a little irritated, and disappointed that I live in a society where people raised to spurn free lunch schemes get shafted.

[patientrenter]

jp,

I agree with you. I too saved and refused to pay a ridiculous price for a home. I was completely blind to the possibility that I didn’t really need to buy the house. I could have bought, very cheaply, a call option on the house, by borrowing all of the purchase price.

In retrospect, what I should have done was buy a new house every year of the bubble (without selling the older houses), using none of my own money. As the older houses showed big enough appreciation, I’d sell them off and pocket the gain. If and when house prices start to go down, I sell them all off. The last one or two show a loss, but I just get a short sale, or mail back the keys, or get a bailout on those.

I could have made around a million dollars net, without even trying.

It is offensive to me that this was made possible, and even more offensive that our government is using my taxes to subsidize homeowners, thereby continuing this madness.

I absolutely disagree with the idea that we have to throw money at homeowners to “save our economy”. 90% of what’s going on is just a way to continue shoveling more money at homeowners, under the guise of saving our economy.

I guess, like you, jp, I am a little irritated, and disappointed that I live in a society where people raised to spurn free lunch schemes get shafted.

[patientlywaiting]

SD Realtor, I just heard on the PBS Newshour that there are now about 4.5 million overdue mortgages NOT owned by Fannie and Freddie. Add Fan/Fred to the mix and what do we have? Double?

The questions that perhaps ought to be asked are:

1) Did the scale of the financial crisis surprise you?

2) Why?

3) Where are the people who poo-pooed dire predictions at now? Why were you so blind to what was staring you in the face?

Even here on Piggington, when the DOW was 14,000, anyone who dared to predict that it would drop to 8,500 would been called a nutcase. That person would have been berated with calls to bring “proof” or, at the very least, a solid analysis. However, at DOW 14,000, predictions of 16,000 would have sounded sensible.

I think that there is a certain Pollyannish way of thinking. People who predict the worse are always vilified and chased away.

Psychologically, humans ignore terrible news and keep on plugging along.

I guess that’s why, in early humanity, people kept on walking out of Africa despite all the hardship and unknowns, in search of a better horizon.

[patientlywaiting]

SD Realtor, I just heard on the PBS Newshour that there are now about 4.5 million overdue mortgages NOT owned by Fannie and Freddie. Add Fan/Fred to the mix and what do we have? Double?

The questions that perhaps ought to be asked are:

1) Did the scale of the financial crisis surprise you?

2) Why?

3) Where are the people who poo-pooed dire predictions at now? Why were you so blind to what was staring you in the face?

Even here on Piggington, when the DOW was 14,000, anyone who dared to predict that it would drop to 8,500 would been called a nutcase. That person would have been berated with calls to bring “proof” or, at the very least, a solid analysis. However, at DOW 14,000, predictions of 16,000 would have sounded sensible.

I think that there is a certain Pollyannish way of thinking. People who predict the worse are always vilified and chased away.

Psychologically, humans ignore terrible news and keep on plugging along.

I guess that’s why, in early humanity, people kept on walking out of Africa despite all the hardship and unknowns, in search of a better horizon.

[patientlywaiting]

SD Realtor, I just heard on the PBS Newshour that there are now about 4.5 million overdue mortgages NOT owned by Fannie and Freddie. Add Fan/Fred to the mix and what do we have? Double?

The questions that perhaps ought to be asked are:

1) Did the scale of the financial crisis surprise you?

2) Why?

3) Where are the people who poo-pooed dire predictions at now? Why were you so blind to what was staring you in the face?

Even here on Piggington, when the DOW was 14,000, anyone who dared to predict that it would drop to 8,500 would been called a nutcase. That person would have been berated with calls to bring “proof” or, at the very least, a solid analysis. However, at DOW 14,000, predictions of 16,000 would have sounded sensible.

I think that there is a certain Pollyannish way of thinking. People who predict the worse are always vilified and chased away.

Psychologically, humans ignore terrible news and keep on plugging along.

I guess that’s why, in early humanity, people kept on walking out of Africa despite all the hardship and unknowns, in search of a better horizon.

[patientlywaiting]

SD Realtor, I just heard on the PBS Newshour that there are now about 4.5 million overdue mortgages NOT owned by Fannie and Freddie. Add Fan/Fred to the mix and what do we have? Double?

The questions that perhaps ought to be asked are:

1) Did the scale of the financial crisis surprise you?

2) Why?

3) Where are the people who poo-pooed dire predictions at now? Why were you so blind to what was staring you in the face?

Even here on Piggington, when the DOW was 14,000, anyone who dared to predict that it would drop to 8,500 would been called a nutcase. That person would have been berated with calls to bring “proof” or, at the very least, a solid analysis. However, at DOW 14,000, predictions of 16,000 would have sounded sensible.

I think that there is a certain Pollyannish way of thinking. People who predict the worse are always vilified and chased away.

Psychologically, humans ignore terrible news and keep on plugging along.

I guess that’s why, in early humanity, people kept on walking out of Africa despite all the hardship and unknowns, in search of a better horizon.

[Author]

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