Reply to What I don't get: When people complain that they are drowning because their house is underwater

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Reply to "What I don't get: When people complain that they are drowning because their house is underwater"

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[quote=Anonymous][quote=Anonymous][b][quote=Anonymous]I've been responsible for my finances - but I wasn't for everyone else's - as a result home prices in my area have plummeted - so I've lost the 90k I put down when I bought the house in '05 right before the shit hit the fan and am probably 150k MORE underwater.  What do you assume I do there?  I did not have a crystal ball - and sorely wish I did.  [/quote]

Nothing.  But why do *you* assume housing prices only go up?  It is your attitude that I find obnoxious.  I'm sorry you made a bad investment decision.  I've lost a buttload of $$$ in stocks as well, but you don't hear me crying about the $100k+ that vanished.  Your house is no different.  It is an investment. If you didn't want to invest like this, you should have rented.

The point OP was making was that why should you get to complain b/c you've lost money?  You presumably can still afford the mortgage payments, right?  Just like you'd be affording rental payments, no?

So STFU please.[/quote]

I never **assumed** it would go up but I also didn't count on big businesses raping america via their massive greed with the fraud that was MBS and for my home value to fall over 200k.  I'm pissed b/c I see the big banks getting bailed out and people who should have never been in the homes to begin with getting bailed out on my back and the backs of other people who are responsible.  Why should some people get to walk away from their bad investment without any long term ramifications (only losing their down payment) and the rest of us be stuck?  At least if I invested in the stock market - which I have  and lost - everyone loses equally unless there is insider trading.  This scenario is not playing out that way.  So STFU right back[/quote]

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