Swinging Fortunes

Now, I’m a real estate mogul, so this doesn’t really have much to do with me.  I do happen to live in a place where the real estate market has essentially slit its own throat and is now running around spraying blood on everybody in the vicinity.

No, the thing that strikes me is that through the magical use of leverage, a person can lose an assload of money with minimal investment.  Now the fact that it can occur isn’t that amazing.  The amazing part is that a person making X per year can lose 4X in a very short period of time.  They bust their ass getting up every morning, doing whatever awful task is required to earn X and now they have pissed away 4X. 

That just kind of sucks.

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2 Responses to “Swinging Fortunes”

  1. It is freaky how that much wealth can just disappear. It reminds me of the folks making a run on the Building & Loan in “It’s a Wonderful Life.”

    Real estate is usually considered a conservative investment.

    That’s why all my money is tied up in gold and stolen European paintings.

  2. real Estate allways good.

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