Hoping for misery

Lara and I are thinking about buying a house, an item which is tough to afford around here – which puts us in the sad position of benefiting from the drops in housing prices… drops which both come from the misery and cause the misery of other people.
And things seem to be coming to a head in this area. Housing defaults are up in general, moreso not far from here in specific. And reports are going around that the biggest employer in town, cellular biology kingpin Amgen, is gearing up for some sizable layoffs as well as possible relocating some employees, both of which should open up housing. And if the loan defaults aren’t inherently freeing up enough houses, there’s also the fact that the defaults are causing vast problems for house financing companies like Countrywide Financial… which is based here in town.
So in a few months after things shake out, we may be ready to take a stab at profiting from the misery of others. We shall see.

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Published in: on August 15, 2007 at 10:13 pm  Leave a Comment  

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