Foreclosures Hit Rich and Famous

[Vision]

too much house that they couldn't really afford --

http://bit.ly/b45n7R

my favorite blurb from the piece --

"Two of the 3 richest people on the planet: Warren Buffett and Carlos Slim, still live in their original modest houses. Every wonder how they got to be so rich?"

 

[Theo]

When a home gets foreclosed at $35 million, I can't imagine what its alleged worth is. People should not buy what they cannot afford.

 

[TheLegendaryJP]

Nic Cages case is an example of living beyond one's means..BIG TIME, its sad really they feel they need to.. for example...

He buys a home for $6.5M
He refinances it for $13M not many years after
He blows all $13M and now the home after the down turn leaves him backwards and the bank is eating a HUGE loss.

Its a sickness that you can make 10's of millions and lose property, a sickness! You either have to be sick, stupid or... sick.