[pepperdog]

Am I understanding this correctly, they bought a NEW house at the height of the housing boom expecting to sell it at a handsome profit? That just doesn’t make sense.

[BigBobber]

Not just any new home. A 5000 sf home. That’s cheeky.

BTW, has congress passed any new laws making these 0% down, interest only mortgages at the borrowers sole risk? Didn’t hear about it if they did.

[DCPatriot]

Am I understanding this correctly, they bought a NEW house at the height of the housing boom expecting to sell it at a handsome profit? That just doesn’t make sense.

Must have missed the memo announcing the height of the housing market was upon us. [/s]

There will ALWAYS be people buying at the peak...as well as people selling at the bottom of the market. Stuff happens.