Home › Forums › Housing › Spillover Effects?
I think this qualifies:
http://www.msnbc.msn.com/id/17503344/
I don’t think this was posted on here yet, but I apologize if it has already.
At least we are learning from all of this, right? In reference to foolish lending:
“Apparently that includes loaning money to folks with spotty credit histories to purchase homes not only to live in but also to speculate on.”
Wow, who’d’ve thunk it?
Yes, who would’ve thought that homeowners were speculators on the very homes they live in.
It’s not just the flippers and the non-occupant investors that we need to worry about. The live-in homeowners are speculators themselves.
That’s no news to us at Piggington.
As the market drops, we’ll see all those hurtin’ investors add to inventory.
My greatest insight from piggington has been the realization that speculators include most of those who bought, not just investors. My greatest joy will come when they all have to foreclose.
I remember an article that Rich wrote about this very situation. However, I can’t find it. Someone please post the link if you find it. Thanks.
italics off
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