Quote:
Originally Posted by Slava
That is what I have to go on as well, and have seen the same. I blame that on the "Real Estate doesn't lose money, and you can just sell the property" attitude that some held up until last year.
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A bit off topic, but Global seems to be running ads for
Homerun Investments a lot lately. The commercials are irritating but the spokesperson in the ads seems to really push that "real estate is a safe investment" mantra. I think the investors on the other end of the cases I mentioned above probably felt the same way. Now they have gone through a foreclosure and at the end of the day they have a chunk of land to call their own in a falling market. I'm willing to bet they signed up to be real estate investors and not real estate developers but that's exactly the position they are in after the foreclosure.