This makes me extremely happy. The housing crises seems to be hitting the rich people now. This is good. I like that millionaire real estate developers are also stupid enough to buy houses they can’t afford. It might not solve my problem, but it does make me smile.
Implicit in much of the debate about the housing crises are the following ideas:
“The people who got burned are just dumb shits who deserve everything bad that happens to them. They are illiterate morons who had no idea what they were getting into.”
This kinda rings false when ‘for sale’ signs are going up in the Hamptons.
