Housing bets bad gone

[Liberal_in_LA]

http://www.startribune.com/business/17958114.html?page=2&c=y

Housing bets bad gone (is that a typo in the title?)

Wright County was a haven for speculators -- until they got burned in the downturn.

By CHRIS SERRES, Star Tribune

Last update: April 20, 2008 - 5:16 PM

Every so often, his workday over, Bradley Collin Jr. steers his Taurus station wagon out of his driveway and onto the flat, windswept roads near his Andover home. ¶ Then Collin gets to thinking about his debts, and the decision he and his wife made three years ago to invest in a get-rich-quick real estate scheme in Wright County. Last year, four houses that he bought in Otsego -- for a combined $1.2 million -- sank into foreclosure.

Collin presses on the gas pedal, pushing his car past corn fields and grain silos, at speeds that top 70 miles per hour. "It's my way of unwinding and outrunning the guilt," said Collin, 27, a self-employed painting contractor and father of three.

[enid602]

1. numb

I'm numb after reading that. Too sad.

[Tangerine LaBamba]

2. So young, so dumb

He's, what, 27 years old, and he gets himself into a scheme that involves four different mortgages from four different lenders? Who wouldn't smell a rat?

He's in a rough situation, but he did it himself, and it was all greed.

[coriolis]

4. 10 to 4 odds he's a Republican.

:shrug:

[SoCalDem]

3. Two numbers say it all

$1.2 million ...27

The people who loaned him money were idiots and he was the ultimate idiot..

no sympathy here

[Liberal_in_LA]

5. three kids also

[Mountainman]

6. greed = get rich quick! That's life today, no effort needed. No time in just

a quick buck get and get out. Too fucking late, the money has already been made. It's our deadly sins that get is all the time.