Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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Florida Homeowners Call It Quits: Selling Hurricane-Damaged Homes to “Quick Buy” & “As Is” Vultures (lakelandgazette.info)

submitted 4 days ago by SeattleRain to c/housing_bubble_2

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[–] melisdrawing 4 points 4 days ago (1 children)

This is awful for people affected, but we do sort of keep ignoring the fact that Florida isn't forever. Do we want people to keep building their castles in the swamp? I wish it was the gubment buying them out and prohibiting residential zoning in some of these places, but here we are. Our country's disdain for the public good has left our collective asses exposed to the whims of the almighty market.

[–] modeler 8 points 4 days ago

Global climate change and rising sea levels were predicted more than 100 years ago, and specific warnings for low-lying areas like Florida have been given by scientists for decades.

But people, especially the 'pull yourself by you bootstraps' and 'no gubmint handouts' people, have conveniently believed politicians of a specific party and chose to invest in buying this property.

Why should these people be bailed out now? Why should they be rescued rather than the socioeconomically disadvantaged?