Housing Market Articles are Missing the Point...
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2009 Nov 27, 3:39am 1,561 views 1 comment
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Just read this article : http://finance.yahoo.com/loans/article/108229/distressed-homeowners-ponder-whether-to-stay-or-go?ref=patrick.net
The author totally missed the most important points of this story. I believe them to be as follows:
1. Police Man purchases 650K home!!!
What's a cop make annually? 50k? The problem with the housing market is that people have no idea how to act their wage.
2. Another family bites off more than then can chew!!!
Even if the family wasn't underwater on the value of thier home, they still would be underwater on the cost of their home. They can't make their damn payments!!! This has nothing to do with the value of their home.
I'm just never surprised anymore.
-Drew
#housing