Saturday, Feb 28, 2009
The dark side of MEW
Guardian: I squatted my repossessed home
This chap managed to lose his house even though he bought it 30 years ago.
Posted by cyril @ 10:10 AM (1120 views) Add Comment
9 Comments
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1. d'oh said...
Moral of the story - never, ever use the collateral in your house to back a business.
2. Enough Already said...
He was a millionaire at one stage! Does great wealth addle the brain or something? Seems like all the incompetent fools who have contributed to the depression were loaded too. Big wallet = small.... brain?
3. drewster said...
It's a touching story. However I don't quite understand this part:
"Without a home, I couldn't work"
Couldn't he have just rented a place and carried on working, like the rest of us do? I understand he must have been under considerable stress, but the possibility of renting was never even mentioned in the article.
4. Suzy And Joe said...
They must owe a huge amount of money, if two fine sons can't earn enough to keep it.
The financial pickle some get them selves into is amazing.
5. justwatching said...
Story a little thin on financial detail. He MEWed against house to keep business afloat and ended up losing both? Stick or twist, sounds like a gamble to me, not a lot of sympathy, sorry.
6. gone-to-colombia said...
Oh well, how sad, never mind...
7. Spider said...
why are we supposed to sorry for someone who gambled on the price of his house going up? What a stupid thing to do! I've got no patience with these people. Had the luck to get on the ladder well early - then gambled it. ??? duh?
8. Camping said...
should have squatted it in the first place and then offered to rent it, or maybe buy it .
anyway typical guardian rubbish, high emotional content with little reality or common sense.
9. debtfree said...
"My mum moved around a lot when I was little, and my education and sense of self suffered. "
Why ?
We are naturally foragers and for 2 million years done quite well.
Get a grip and stop blaming your mum, you gambled the roof over your families head and lost.
Deal with it.