But in the end, the only people who suffer are the good homeowners. The one's who didn't overbuy, didn't try to funagle that which they didn't deserve. Teh banks get bailed out, the foreclosed people got to live in houses they didn't deserve, all the while people who actually didn't have their heads up their asses are seeing their property values tank and their ability to ammend the situation dissapear.
I'm upside down on my place now, even though I was one of the first to buy in the building and got the cheapest price. I've got a foreclosure that was destroyed by the owner across the hall from me selling for 30K less than I bought my place for and it's been sitting like that for months.
The bank got bailed out, and the owner of that place got away with every single thing of value in the unit while I'm sitting here having lost 30K on mine because I was honest and had integrity.
Every scumbag is getting rewards and the non-scumbags are getting ****ed.