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California Man Losing 9 Homes Admits Real Estate Investment a ‘Mistake’

May 12th, 2008 | By Contrarian Profits | Category: Featured, Financial News

The housing crisis continues to drag on and drag down the US economy. This piece from Reuters says it all:

A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it “a mistake” to have invested in the real estate market.

Shawn Forgaard, a 37-year-old software company project manager, bought one home for his family to live in and nine more as investments.

Tags: Brian Hunt, Commercial Real Estate, Dailywealth, Neg Am Loans, Real Estate Investment, Residential Real Estate
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