Friday, December 9, 2011
Come back, bubble, all is forgiven
Oh, goodie, my zip code here in the Phoenix suburb of Chandler has the most short sales of the whole Valley of the Sun.
I watch House Hunters (HGTV)—and know that a short sale is an irritating process in which the bank which really owns your house takes six months to decide on whether they will let someone buy it for less than you owe and eat the rest (oh, and ruin your credit as an afterthought).
Hope you enjoyed your bailouts!
Still, out here in Upsidedown Land, short sales are a necessity if you ever want to move or go to another city or just rent and sleep at night or anything.
First, for the record, not everyone whose house is upsidedown kept refinancing and jumping on cruise ships out of their Hummers. Quit with the disdain—the market crashed. Silly us—we thought we had hired people to mind the store.
Hey, idiots that we are, we pray for another bubble!
Right now, “owning” this house is really renting—it is shelter, which is not to be dismissed these days, but hardly an investment.
Forget me—bad mood today…But I am sick of the asshats in DC with their lobster feeds, vacays, “I don’t know where that $1.2 billion wents” etc.