A Quote for the Day

Part of what has fueled this housing bubble has been the allure of "easy money" by speculators hoping to flip or buy, hold, then sell properties to cash in on the appreciation. While I have no qualms about capitalism, or buying an asset at one price and selling it at a higher one, too often the reasons one pursues real estate is the dream of "passive income." To make money while you sleep, to earn your keep doing nothing, so to speak. And it's to those "investors" this quote is dedicated to:

The darkest hour of a man's life is when he sits down to plan how to get money without earning it.
-- Horace Greeley

People with the "passive income" mentality are simply trying to get rich quick without any work, sweat, or effort. And those are the people who put in the least amount of research, time, or forethought into their endeavors. And they will be the ones who get squashed first and most furiously as the housing bubble unravels. Those who seek easy riches usually find poverty instead.