It’s Almost Like A Crash

[Joseph Burkeson, CMI]

The St Petersburg Times reports from Florida. “Liz Seither deftly juggles the two phones that never stop ringing in her kitchen. The Clearwater Realtor’s eyes are puffy below unkempt flaming orange hair. Seither invested in expensive Clearwater waterfront property at the peak of the recent boom. Lenders are after her for millions of dollars in debts.”

“After juggling 15 calls from debtors, creditors and clients, Seither lays the phones aside and delivers a pep talk to herself. ‘I’m not a real estate bum,’ the president of Executive Preferred Properties announces. ‘I wear diamonds, Rolexes and necklaces. I’m a classy Realtor.’”

The whole story.

[William J. Decker]

Originally Posted by jburkeson1

The St Petersburg Times reports from Florida. “Liz Seither deftly juggles the two phones that never stop ringing in her kitchen. The Clearwater Realtor’s eyes are puffy below unkempt flaming orange hair. Seither invested in expensive Clearwater waterfront property at the peak of the recent boom. Lenders are after her for millions of dollars in debts.”

“After juggling 15 calls from debtors, creditors and clients, Seither lays the phones aside and delivers a pep talk to herself. ‘I’m not a real estate bum,’ the president of Executive Preferred Properties announces. ‘I wear diamonds, Rolexes and necklaces. I’m a classy Realtor.’”

The whole story.

There are people who know what they are doing and there are dumb speculators. Guess which one the abovementioned woman is?

[mthomas2]

I know the glut of rental condos has kicked the stuffing out of my rental apartment buildings' cash-flow. OTHO, I'm not losing money, and some of the condos being rented in my area by flippers and "investors" for $1200-1500/mo are incurring $4000+ monthly holding costs.... with new projects coming on-line every month.

Eventually, that's likely going to get very, very ugly.

[Doug Edwards, CMI]

You know, payday always comes someday. Her statement about " I wear diamonds, a Rolex, etc. etc....." speaks volumes about what is wrong. Some people try to play a part or look a part without really being the person they are playing. Wearing diamond and Rolex watches does not make someone "classy". If someone is in hock up to their eyeballs and a speed bump comes along it completely throws them into bedlam because nothing "really belongs" to them. It belongs to the bank. Too many "high rollers" have been living beyond their income and payday came and they were not packing enough ***** to do any heavy bulldozing. Their wealth was nothing more than a front, a sham and a part they played. Really classy people do not live that way nor do they feel the need or have to tell others that they are classy. If you have to tell someone you are classy....you aren't.