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  • Does it make me a bad person...

    That I don't feel bad for people like this?

    https://www.vice.com/en_us/article/4...ruined-my-life
    1. Blames parents for "forcing" him to buy a place he knew he didn't want and couldn't afford
    2. Put essentially 0% down on a condo
    3. I know from previous discussions from him that he bought in a shitty area of northern virginia that was never going to really appreciate.
    4. Quit his well paying full time job to "freelance"
    5. Bought a house making $35k. Made six figures from a book advance. Couldn't cover bills just a short couple years later.
    6. Current income doesn't qualify as "poverty" so he's doing well enough for a house you thought you could afford on $35k salary
    Basically, he made every single wrong decision. But fuck the banks for causing the bubble and let him do it.

  • #2
    Originally posted by Foster4Prez View Post
    That I don't feel bad for people like this?

    https://www.vice.com/en_us/article/4...ruined-my-life
    1. Blames parents for "forcing" him to buy a place he knew he didn't want and couldn't afford
    2. Put essentially 0% down on a condo
    3. I know from previous discussions from him that he bought in a shitty area of northern virginia that was never going to really appreciate.
    4. Quit his well paying full time job to "freelance"
    5. Bought a house making $35k. Made six figures from a book advance. Couldn't cover bills just a short couple years later.
    6. Current income doesn't qualify as "poverty" so he's doing well enough for a house you thought you could afford on $35k salary
    Basically, he made every single wrong decision. But fuck the banks for causing the bubble and let him do it.
    Has this guy never heard of filing bankruptcy? Dude, you were in your mid-20s. Take the L now, rent something you can afford, and start over. I know nobody wants to admit financial failure, but it's better to take the hit when you're young and still have time to recover than ruin your life.

    And no, you're not wrong. This guy made a lot of really bad, short sighted decisions, and now it's coming back to bite him in the ass. As an expert in this area, I can assure you that he 100% deserves what happened to him, and the only way out for him is accepting responsibility.

    Comment


    • #3
      Was he an illegal immigrant or a native born American? It makes all the difference.

      Comment


      • #4
        Originally posted by tOSUfanboi2 View Post
        Has this guy never heard of filing bankruptcy? Dude, you were in your mid-20s. Take the L now, rent something you can afford, and start over. I know nobody wants to admit financial failure, but it's better to take the hit when you're young and still have time to recover than ruin your life.

        And no, you're not wrong. This guy made a lot of really bad, short sighted decisions, and now it's coming back to bite him in the ass. As an expert in this area, I can assure you that he 100% deserves what happened to him, and the only way out for him is accepting responsibility.
        Like I get the people who legit got fucked over at no fault of their own by the housing bubble.

        But this guy clearly knew better and fucked up at literally every turn. I just... can't with this shit.

        Comment


        • #5
          What I don't get is why housing prices haven't risen in VA?

          My house in LA is now worth 1.3M more than what I paid for it in 2008 (1.5M)

          Comment


          • #6
            Originally posted by Foster4Prez View Post

            Like I get the people who legit got fucked over at no fault of their own by the housing bubble.

            But this guy clearly knew better and fucked up at literally every turn. I just... can't with this shit.
            The people I feel bad for are first generation immigrants, the elderly, and (I say this in the kindest way posssible) the genuinely ignorant/stupid people. They were actively preyed on by assholes who deserve a punishment they'll never get, but this guy? Fuck him. Everybody makes mistakes, but he kept making them and I can only assume he's still making them now.

            Comment


            • #7
              Originally posted by Foster4Prez View Post
              That I don't feel bad for people like this?

              https://www.vice.com/en_us/article/4...ruined-my-life
              1. Blames parents for "forcing" him to buy a place he knew he didn't want and couldn't afford
              2. Put essentially 0% down on a condo
              3. I know from previous discussions from him that he bought in a shitty area of northern virginia that was never going to really appreciate.
              4. Quit his well paying full time job to "freelance"
              5. Bought a house making $35k. Made six figures from a book advance. Couldn't cover bills just a short couple years later.
              6. Current income doesn't qualify as "poverty" so he's doing well enough for a house you thought you could afford on $35k salary
              Basically, he made every single wrong decision. But fuck the banks for causing the bubble and let him do it.
              You know this guy? What area of NoVA? His comment that there was a bubble in DC seems absurd. DC never really got hit with the real estate fallout and a home from 2006 has almost certainly appreciated in value since then.

              And if he's still underwater on his mortgage after 12 years then holy hell.

              Comment


              • #8
                Originally posted by tOSUfanboi2 View Post

                Has this guy never heard of filing bankruptcy? Dude, you were in your mid-20s. Take the L now, rent something you can afford, and start over. I know nobody wants to admit financial failure, but it's better to take the hit when you're young and still have time to recover than ruin your life.

                And no, you're not wrong. This guy made a lot of really bad, short sighted decisions, and now it's coming back to bite him in the ass. As an expert in this area, I can assure you that he 100% deserves what happened to him, and the only way out for him is accepting responsibility.
                If you're not going to invest in higher education and you have a bit of money in your early 20's, I'd totally recommend making some ridiculous investments and taking out massive loans and taking a gamble on investing. If it work's you're a millionaire by 30. If it doesn't you declare bankruptcy at 26-27 and rebuild your credit. By 32-33, you're right back where you would be, debt free...but don't pussy foot it and go bankrupt for like 100k, you gotta get minimum 300k out from the banks first. They are suckers, so if you have some initial capital, you're golden.

                Comment


                • #9
                  Originally posted by General_Grantlocks View Post

                  If you're not going to invest in higher education and you have a bit of money in your early 20's, I'd totally recommend making some ridiculous investments and taking out massive loans and taking a gamble on investing. If it work's you're a millionaire by 30. If it doesn't you declare bankruptcy at 26-27 and rebuild your credit. By 32-33, you're right back where you would be, debt free...but don't pussy foot it and go bankrupt for like 100k, you gotta get minimum 300k out from the banks first. They are suckers, so if you have some initial capital, you're golden.
                  If this guy was that smart, he wouldn't have bought a shoe box sized condo to start with.

                  Comment


                  • #10
                    Don't make plans that only work if everything in your life goes right.

                    Comment


                    • #11
                      Originally posted by tOSUfanboi2 View Post

                      If this guy was that smart, he wouldn't have bought a shoe box sized condo to start with.
                      He should have gone with a giant mansion, used his book money on hookers and blow in said mansion, and enjoyed his 20's.

                      Comment


                      • #12
                        Hey, it's Christmas Ape from Kissing Suzy Kolber.

                        Comment


                        • #13
                          Originally posted by General_Grantlocks View Post

                          He should have gone with a giant mansion, used his book money on hookers and blow in said mansion, and enjoyed his 20's.
                          As funny as this is to say, if he had done that and then filed bankruptcy afterwards, he'd be in a way better spot right now. Plus he'd have some memories.

                          Comment

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