| The mortgage crisis isn't good for anyone. All of us would be in the same boat if we, say, were in the tech bubble that burst a few years ago. It's just simple supply and demand. When mortgage companies repossess, it puts a glut of over-priced homes on the market and people without jobs can't buy them. Like AOO says - it's just economics. Doesn't make sense unless you've studied it and it will make you angry if you dwell on it, but it's the damned truth. I was like Detector and struggled to buy a house. Then the gods smiled and I'm sittin' pretty. But I always know that when there's an "up", there's a "down" and I try to be prepared for it, even though it sometimes seems impossible to prepare.
It's like most other things....sometimes people live beyond their means like there's no tomorrow. Then something happens and snaps them back to reality. This is that reality. Greed is never sound judgement.
__________________ When the goin' gets tough, the tough go shopping!  |