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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[–] 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?