Bookmark this site
Most of us are guilty of it. A mortgage is meant to be paid off eventually, right? So why did the lenders invent interest only loans and negative amortization loans? Clearly to take advantage of buy low and sell high. Short term homeownership similar to the arbitrage that stock traders get rich off of. Who benefits from the crashing real estate market?
The people who are buying the homes on the foreclosure auction block? How is it possible that a home can become like a stock that goes up and down in value so much that it can destroy peoples lives. If that is what homeownership has become, should we be looking at it more like a stock trader? Buy low… sell high.
I hear people complaining about strategic defaulters, but what about the real people who created the bubble and the crash, the ones who drove the ship into the iceberg. Why get mad at the ones who are scrambling to occupy a seat on a life boat as the Titanic is sinking…
To big to fail?
Source: YouWalkAway.com
