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Posted by: hamy 11 months, 4 weeks ago

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hamy11 months, 4 weeks ago

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But without these homes foreclosing, then the bleak future of real estate will get even bleaker. What the real estate market needs is movement. If the homes foreclose, then the people who were living there need to move and then the house will be sold by the bank and that means someone will have bought that house and will need to sell theirs.

The big problem right now is greed. People are so used to making money on real estate that they forgot it is a risk.

I work in new home sales and people put money down on a condo 3 years ago. Now that they actually have to close on the homes, they are coming to me and asking me to give them their money back.

I politely let them know that they must close on the home or they will lose their earnest money. That is the point of earnest money after all. Then they say things like "things are tough right now" and I say "I know."

I am just amazed that they think that they should get their money back when they did nothing to prepare for this day.

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  Natureboy11 months, 4 weeks ago
  
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  "What the real estate market needs is movement. If the homes foreclose, then the people who were living there need to move and then the house will be sold by the bank and that means someone will have bought that house and will need to sell theirs."
  
  That's an indication of a diseased economy, isn't it? One which no longer is driven by real needs, but rather needs constantly increasing consumption. That is the ethic of the cancer cell, and it is killing the Earth, and us.
  
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