@Gun:

Not at all. Real estate can be very lucrative and secure unless the market drops as it did. It's just an investment.

I think he was saying that this is a common occurance.

Yes, and so can gambling. Which essentially what it is when you buy NINE houses to try to flip and turn a profit when for the past 4-5 YEARS indications were showing that sooner or later the housing bubble was going to pop.

Sadly he got caught holding the bag, and over-extending his reach, and thats his own fault.

It's like that parable of the Dog snatching a hunk of meat.. as he crossed a river, he saw his reflection and thought it was another dog with a big hunk meat too.. Thinking he'd get two big hunks of meat, he attacked the water, dropping his meat which washed away, and thus lost his meal.

I have no pity for these guys. There are regular folks losing their ONE home that they got (and some of them deserve it because they bought way out of their means.. if you make $80k a year, you have no business with a $450k home, sorry), yet this guy is complaining because he lost Nine homes?

If there's one thing about Americans i'll admit is disdainful, it's our 'victim' mentality, where the rich and spoiled cry big fat crocodile tears because their big money scheme blew up in their face.

Bashed.