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The sad thing about this is that it seems like we haven't learned from the past. One of the hottest things in my local community right now is flipping houses. Y
by southphillyman 9y ago
The sad thing about this is that it seems like we haven't learned from the past. One of the hottest things in my local community right now is flipping houses. You have people levereged to the hilt with hard money loans, flippers teaching classes (and providing hard money loans), and home prices at or exceeding 2008 levels.
- alextheparrot 9y agoNo no no, you aren’t understanding, let me aid you in doing so. The people in 2008 just timed the market poorly. This time around, we’ll see all the tell-tale signs of a housing crash and get out right before it does so, all cash. Then, when all the stocks (Because, of course, banks will lose out on the highly leveraged positions of our non-fortuitous peers) have tanked, we’ll simply buy them at rock bottom prices, riding a wave of financial security into the nursing home.
- PythonicAlpha 9y agoI hope, I just missed the irony-tags.
- fellellor 9y agoI hate those. If anything they just dilute the message.
- bousaid 9y ago(his /s tags missing lol) Ah yes, the classic “buy the dip” strategy.