Who do you think regrets their actions during the housing bubble the most?
July 26, 2007
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20 comments:
Your neighbors
I do. I closed my short on CFC way too early, a couple months ago, when it didn't go down as fast as it should be.
Oh geo bush, alan greenspan, davey boy lyin' learah, nick can't shoot straight restinas, hank (why the hell did i take this job?) paulson, the chinese government for buying american debt, anyone who bought on rapidly rising comps and cheap financing the past few years...
Fed Flippers stuck with more than one second home they can not sell.
The people who bought a crappy little house in Ft Myers at the top of the market because they were afraid if they didn't act quickly they would be priced out forever and would have to rent.
Flippers
LauraVella said: I'm convinced everyone who bought in the last 6 years will regret they didnt sell and just rent. It's easy,when one has equity to say "we'll just ride it out" it's tough to stay positive when it all vanishes.
Does anyone really believe the prices of 2003-2006 will return??
I regret not getting in on the free money train early on, Knowing what I know now I would be sipping umbrella drinks on a beach far far away from this shit hole.
But no complaints I am debt free other than my $1300 a month mortgage...that i can payoff if need be...but i would rather send it in late every month to keep the lender guessing...
"but what about your credit you ask"
I have a dead Credit Score anyway cause I am not leveraged:
Take your Credit and shove it, I Don't need credit...I have dollaaas!
It's a tough call between:
a) foreign holders of dollars, particularly the folks running China (don't spend that rapidly depreciating currency all in one place, chumps).
b) bagholders of pension funds that bought the mortgage backed securities peddled by Wall St. Don't worry, there's always that Wal-Mart greeter job to tide you over in your "golden" years.
Regrets? Selling 500 shares of AAPL in '05 at $20 because I thought the economy was about to tank.
Ouch!
Regrets can be for actions NOT taken, too. Now, with crystal-clear hindsight, the smart thing to have done back in 2002 would have been to have bought a house – 100% financed, No Doc, Interest-Only, rented it out for 3 years, and then boot the tenants out and apply a spit-shine, before selling the house for a nice tidy profit in 2005.
Realtor Speculators
I regret selling all my silver back when it was dirt cheap...stupid, stupid, stupid.
Karl Rove George Bush Dick Cheney the 3 headed monster,greenspan was the enabler
sale today on gold and silver shares
The fat dude in the Suzanne videos - it is going to spawn a whole new phrase "I got Suzanne'd" for decribing the regret that comes from discovering that ignoring gut feelings and going along to get along is bad.
I totally regret not selling my depreciating shitshack in 2005-2006.
My area here in Southern California is dropping about 10% a month. WE ARE SO F_ING SCREWED!! (the local market not me, I bought pre-bubble with a rate below 6 and never refied or HELOCd).
"it's tough to stay positive when it all vanishes.
Does anyone really believe the prices of 2003-2006 will return??"
With prices dropping at the rate they are now here in Southern California, I would say YES there is a good chance of seeing 2003 prices. If that is the case, i will be back at my buying price:-( Yes it's sad but not the end of the world. That would be having bought AFTER 2003 and it drops to 03 prices DOH!
me, because i would have gotten 750,000 during the height, but well maybe not me because I would have wanted to buy a 1,000,000 house. no matter how much i made i would still not be able to have afforded what i was already living in. damned if i did and damned if i didn't.
"Does anyone really believe the prices of 2003-2006 will return??""
No dumb ass, they won't. Inflation is going to rip you a new one. I predict house prices (along with the prices for everything else) will double by 2013. Yes, the average house will run $500K, gasoline will be $6 a gallon, and the DOW will be closing on 30K.
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