Comments on: Speculating versus investing http://www.foreclosuretruth.com/blog/sean/speculating-versus-investing/ Sat, 04 Feb 2012 19:57:02 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Anonymous http://www.foreclosuretruth.com/blog/sean/speculating-versus-investing/#comment-2510 Anonymous Fri, 30 May 2008 21:50:00 +0000 http://new.www.foreclosuretruth.com/?p=154#comment-2510 <p>Frankly, after losing a pile of money, Im tired of hearing the argument that the deadbeat home buyer should have known better. Life circumstances required that I live somewhere. People act like doing nothing was an option. I do not have an ARM with a huge reset. Stndard 30 year mtg. I put 25% down, my life savings, and now I am upside down because the market is a mess. Collateral damage you might say but just dont give me that crap that I should have known better. And dont tell me that "we couldnt have foreseen what was happening" "its just too complicated for anyone to know what would happen." This market was (-Expletive Deleted-) by poor lending practices and monitary policy. Some of the smartest people on the planet work in the financial industry and you're telling me they didnt realize how leveraged it was? Give me a break. Better yet, give me a bail out and give me my money back. </p> Frankly, after losing a pile of money, Im tired of hearing the argument that the deadbeat home buyer should have known better. Life circumstances required that I live somewhere. People act like doing nothing was an option. I do not have an ARM with a huge reset. Stndard 30 year mtg. I put 25% down, my life savings, and now I am upside down because the market is a mess. Collateral damage you might say but just dont give me that crap that I should have known better. And dont tell me that “we couldnt have foreseen what was happening” “its just too complicated for anyone to know what would happen.” This market was (-Expletive Deleted-) by poor lending practices and monitary policy. Some of the smartest people on the planet work in the financial industry and you’re telling me they didnt realize how leveraged it was? Give me a break. Better yet, give me a bail out and give me my money back.

]]> By: Sean http://www.foreclosuretruth.com/blog/sean/speculating-versus-investing/#comment-2509 Sean Sat, 24 May 2008 20:41:00 +0000 http://new.www.foreclosuretruth.com/?p=154#comment-2509 <p>I was more focused on real estate investors and future purchases when I wrote this. That said I do think a lot of homeowners speculated on their ability to make future payments on adjustable, teaser rate, pay option and other WMD loans. Yet I find it a little disingenuous when folks try to lay all the blame on the homeowners as I agree with you that there was a lot of pressure to "get in before its too late". Just note for the future that when you are feeling pressured it is usually a good time to say no.</p> I was more focused on real estate investors and future purchases when I wrote this. That said I do think a lot of homeowners speculated on their ability to make future payments on adjustable, teaser rate, pay option and other WMD loans. Yet I find it a little disingenuous when folks try to lay all the blame on the homeowners as I agree with you that there was a lot of pressure to “get in before its too late”. Just note for the future that when you are feeling pressured it is usually a good time to say no.

]]> By: poncho93 http://www.foreclosuretruth.com/blog/sean/speculating-versus-investing/#comment-2508 poncho93 Fri, 23 May 2008 18:50:59 +0000 http://new.www.foreclosuretruth.com/?p=154#comment-2508 <p>Sean,</p> <p>Great entry. What about the people like my wife and I who just wanted to buy a home, got caught up in the "If you don't buy now you won't get in" rhetoric, and bought a home at an inflated price. There's a third party there that wasn't concerned about a quick buck or turning a profit 20 years down the line and are now clumped in with speculators. Thank you.</p> Sean,

Great entry. What about the people like my wife and I who just wanted to buy a home, got caught up in the “If you don’t buy now you won’t get in” rhetoric, and bought a home at an inflated price. There’s a third party there that wasn’t concerned about a quick buck or turning a profit 20 years down the line and are now clumped in with speculators. Thank you.

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