Reuters: California Man Losing Nine Homes
Actually, if he sheds the home his family's living in, then by my math it's ten homes. But these days, who's counting?
Lemme guess: At least several of these homes were signed for as "owner-occupied," too, right?
Actually putting money down? How archaic is that?
Ah well. What the stock market giveth, the real-estate market lately taketh away. Sure sounds like someone's in need of a bailout. Congress-folks in the audience, can we get right on this, please? I sure would hate to see Mr. Forgaard get left out of the benefits of any current pending legislation.
After all, we need rising house values, and this guy was front and center in the glorious runup. No way should financial dumbassery of this magnitude go unrewarded.