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Post by jeffolie on Jul 21, 2007 16:14:10 GMT -6
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Post by unlawflcombatnt on Jul 21, 2007 16:50:32 GMT -6
The whining by the current homeowners highlights the fact that most consider their home an "investment," rather than a place of residence. The sale price of adjacent homes makes no difference to the "live-ability" of their homes. It only affects their homes' value as an investment, their ability to sell their homes as an investment, and their ability to borrow money off the equity in their homes.
I have no sympathy whatsoever for the previous owners, who bought their homes as a semi-investment, and helped drive home prices up by agreeing to pay the earlier high prices.
The one home-owner's claim that the builder promised "not to sell the homes for less than market value" is asinine. The homes are being sold for market value. That's exactly what an auction price is-- the current market value.
These greedy home owner/speculators are getting exactly what they deserve for helping drive up home prices, by overpaying for their original 'investment,' and hoping to sell their investment lfor a large profit at a later date.
They should have sold sooner. All the indicators were there that prices were going to crash. They simply didn't accept the truth. And that's only because they chose not to accept it, not because they were uninformed or misinformed.
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