Comments on: Housing Prices Have Been Cut in Half in Merced, California http://www.dailyreckoning.com.au/housing-prices-cut-in-half-in-merced/2008/08/26/ An independent perspective on the Australian and global investment markets Sun, 21 Mar 2010 08:37:19 +0000 http://wordpress.org/?v=2.8 hourly 1 By: NewTV.com http://www.dailyreckoning.com.au/housing-prices-cut-in-half-in-merced/2008/08/26/comment-page-1/#comment-37641 NewTV.com Tue, 26 Aug 2008 23:02:10 +0000 http://www.dailyreckoning.com.au/?p=3511#comment-37641 Luke, Buyers over the last few years were not very bright. In fact, they were suckers. (If they did a teaser rate with a non income doc load with reverse AM and a HELOC, they are beyond all hope.) "Ripped off"? I don't think so. I don't know anyone who bought in the last few years who did not speak of their purchase as an "investment". They are getting burned because they deserve to get burned. Do you understand Luke? Luke,

Buyers over the last few years were not very bright. In fact, they were suckers. (If they did a teaser rate with a non income doc load with reverse AM and a HELOC, they are beyond all hope.)

"Ripped off"? I don't think so. I don't know anyone who bought in the last few years who did not speak of their purchase as an "investment".

They are getting burned because they deserve to get burned.

Do you understand Luke?

]]> By: Luke http://www.dailyreckoning.com.au/housing-prices-cut-in-half-in-merced/2008/08/26/comment-page-1/#comment-37450 Luke Tue, 26 Aug 2008 06:40:25 +0000 http://www.dailyreckoning.com.au/?p=3511#comment-37450 I don't see anyone mentioning the fact that for a period of 5 years buyers were ripped off by paying up to twice what the houses were worth. I don't see anyone mentioning the fact that for a period of 5 years buyers were ripped off by paying up to twice what the houses were worth.

]]>