Discussion in 'General Real Estate and Real Estate Finance' started by Lawrence R., May 21, 2009.
Gosh, we never saw it coming. Wonder what kind of whining we're going to hear from this bunch of borrowers.
It reminds me of people who bought houses on a 99 year land lease on the oceanfront in SoCal, with 30 years remaining. At the end of the 30 years they were faced with a HUGE raise in the land rent, and they raised a big hissy fit. Didn't they know they didnt' own the land? They knew darn well that property values had increased in that time, and that this was prime oceanfront land. Some people are so clueless.
It's like when you see really stupid driving from someone driving a Lexus. You have to wonder how they found the brains to earn the money to buy it if they're as stupid as their driving says they are.
Yet another failure of imagination. Who could've imagined?!?