Foreclosures Reach the Rich Too »
Posted By altnrg 1 year ago in News
Many high-end real properties in Florida are now in foreclosure. Who said the rich could not experience the pain of foreclosure?
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Shana4Liberty1 year ago
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Natureboy1 year ago
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Not all of those folks are terribly rich, some are just middle class and in debt like you wouldn't believe, all to create the superficial trappings of "success."
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I remember Phoenix, back in the '70s. Homes on Camelback that cost a cool half-million. Inside, flat-broke yuppies eating tuna out of the can because they put everything into the home, the address, the car.
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StaceyBoaz1 year ago
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What! You'll never get some people in America to believe that! It's the jerks who couldn't afford a home that have lost their home according to them. I, for one, have never believed this. I was looking at the news recently (yeah, I know, I guess I like depression) and they changed their story and said that more people may have lost their homes due to being unemployed and unable to find a job. I say DUH!!!!
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miriametienne1 year ago
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jordan111 year ago
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THE EGOTISTICAL " ELITE " who always felt ABOVE and BEYOND everyone else will now be more affected than many of us who are RESPOSIBLE and THRIFTY>>>>>
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And you personally know every single person who has worked hard to accumulate wealth that you've a mandate to say those things? Everyone is hurting. To take pleasure in the pain of those who have more than you, says a lot about who 'you' are.
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miriametienne1 year ago
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I do NOT feel sorry for the VERY RICH who are about to go BAMKRUPT and PROBABLY EVEN HOPMELESS...............do you know why ?
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BECAUSE THEY ARE TOO ARROGANT TO CONSIDER TO LIVE WITHIN THEIR MEANS.
SO NOW YOU ARE PAYING THE CONSEQUENCES OF PLAYING TOO HARD AND SAVING " NOTHING " FOR A " RAINY DAY"...............guess what ?
NOW IS POURING..............so ENJOY the ride.-
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lovemorgulComment removed: Spammer, Hard Banned
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nkwiam1 year ago
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Nobody "deserves" to have their homes taken away and their lives destroyed. To take pleasure in another's misery just makes you a smaller person. You don't know anything about these people except what you suppose and if what you suppose is correct then they are doubly hurting. At least we can take comfort from each other while they suffer alone in fear of being "found out".
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JEBUS081 year ago
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its the new "american way" - however inflation and unemployment have truly screwed some of these people - others have screwed themselves - of course i am not talking about the rich, they should have had enough stashed away to protect themselves - middle class spends it all on food, health, education, and other necessities
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JEBUS081 year ago
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now that this his reached the rich - it is time for immediate action, after all whats going to happen to us middle class folk if that wealth doesnt trickle down - it looks like debt and foreclosures trickle up, i wonder if that was part of the reagonomic philosophy -
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pjd1201 year ago
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Well, it is happening to everyone, from the middle class to the very rich. But from what I read it really isn't happening to the owners of these homes, it's happening to the contractors that built the home. Tell me if I'm wrong, but that is what I read.
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markmawn21 year ago
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Define "Rich"? And are you referring to Old Money or Nouveau Rich?
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In the 80's, the wildcatting in Texas and Oklahoma went bust and the Nouveau Rich who went from trailer parks to mansions, went back to trailer parks. I think the term Rich needs to be clarified as not meaning wealthy. The "new" rich are prone to spend more than they make as they are just poor people with lots more cash.
Being Wealthy is a "practice" and a mental state of mind. Being rich is a temporary state solely associated with the amount of cash you have in your portfolio at any given time. The range of which I am not certain (100K? 1M? What is Rich?) -
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OLDERFART1 year ago
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cauesed by living beyond ones means/not being forced to but allowed to. what ever happened to self control gotta have this big shack to show off you chineas crap! I don't feel sorry for you.you will have to learn like grandma & granpa did[ to appreciate ]
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Spadecaller1 year ago
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Some who evaluate their self-worth based soley on their financial status will find this depression (recession)unbearable -- even life threatening.
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When and if this nation ever smartens up and starts investing in its people, its workers, and giving all young people an opportunity for a good education, we will have learned a valuable lesson. Because this is exactly why our nation is facing a big financial crisis; failure to invest in our work force and education is wiping out the middle class. The trickle is not down; it's up. -
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staar1 year ago
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I experienced the pain of foreclosure, oh I'd say 17ish years ago..It was horrible..I cried 24/7 while my very young children looked on..in their own way at some level they knew that their world as they knew it was on the rocks. I remember my youngest child now 21 but around 3 then telling my mom "that's the chair my mommy sits and cries in"..bringing tears to my eyes now..It was the bottom for me and I would not wish this on anyone..I know first hand what it does to a family and it's not pretty..we made the mistake that so many people today have..took on way more than we could afford..and finally it caught up to us..that said it was a lesson well learned and I will never put myself in that position again..It's not about material things, at this point in my life, I don't need anything other than my family..and knowing that all of them are warm and fed..oh the wisdom you gain as you get older..My heart goes out to anyone about to lose their home..rich or poor..
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mgminc561 year ago
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I dont feel sorry for too many of them. If you lose your job or go to war, etc.. I understand, but most look for someone to blame. I doubt the President sat in on any of the settlements, but he gets blamed. Wake up people, its simple math. I cant speak for all but Im not terrible impressed with someone because of their house, Im a contractor and I work for alot of so called rich people. They have their million dollar home and will post date a ck. for 200.00. Thats not unusual either. I dont understand and I have relayed my feelings to them. They have nothing to say.
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