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Surreal Estate

From SFGate's Surreal Estate
The House-Flip Flop
"All of 24, Casey Serin bought 8 houses in 8 months to cash in on the real estate boom. All with no money down! Now, as the market's turned, the would-be house flipper is $2.2 mil in debt, facing multiple foreclosures and very scared."

I'm very happy that this guy is getting screwed by the downturn in the real estate. People like this guy make it difficult for other people to find a home they can afford.

Comments

( 2 comments — Leave a comment )
jimramsey
Oct. 6th, 2006 07:26 pm (UTC)
Learn how to buy real estate with NO MONEY DOWN!
I assume this guy signed up for one of those infomercial get-rich-quick schemes. I wonder how the people who peddle those things sleep at night.

The answer:
"On a big pile of money with many beautiful ladies."
(- rainier wolfcastle)
rahaeli
Oct. 6th, 2006 08:00 pm (UTC)
housing_bubble has really interesting articles and analysis about the housing bubble nationwide. Some scary reading there. :)
( 2 comments — Leave a comment )