Replies to post #142466 on ajtj99's Market Pulse

[Belgie24]

Well snoot, I think you would have to see what they did with the money after they sold. If they went and bought 3 houses to flip, which are now in foreclosure, or bought a safe stock like C or GE with the money, most of it is gone.

[osprey]

<<Hi Osprey, (Incidently, I have an Osprey nest in my backyard)>

You must have a big back yard and live near water. Where I used to live back in the Dark Ages, we had a nest near our house. Bird watchers used to drive for miles to take pictures of the birds in their nest. Where I live now, we have lots of Golden Eagles in the summer. I've seen as many as 5 at one time.

<<You mention when a mortgage goes default the money is gone, the person that sold the house in the first place has the money with the exception of bank fees etc.>>

Yes, if someone buys a house for 300K and sells it for 500K, they made 200K. If the last owner defaults and the bank ends up with the house and sells it for 300k (the current situation), the bank lost 200K. Essentially there is a winner and a loser and no net gain in wealth.

Edit: If you take 500K as the peak wealth figure, 200K was vaporized.

[choad]

>>>>>>>>>(Incidently, I have an Osprey nest in my backyard)<<<<<<<<<<<<
Don't cut that tree or you may be posting from a jail cell for the rest of your life.........LMAO. This, of course, is not an indictment on our societal values.....LOL