Every time I come across another one of these stories of rich peoples' innate sense of entitlement it riles me a little more. Dr Beitler is obviously smart enough to know what a deposit is -- but somehow he reckons that a nonrefundable deposit should, in fact, be refundable if and when he can't get a 10%-down, no-income-check mortgage any more. What's more, if he doesn't get his deposit back, he thinks it would be a jolly good idea were US taxpayers to club together to give him back his $173,000 (or more than three times median household income in the US). After all, he did suffer "an unfortunate confluence of events", the poor dear.
I do wonder whether Dr Beitler, who has bought and sold property before -- in what was surely a healthy up market -- might be willing, in return for $173,000 from taxpayers, to return to those selfsame taxpayers all of the profit he made on flipping property in the past. After all, the "confluence of events" which caused property prices to rise was no more his doing than the confluence of events which caused property prices to fall. But somehow I doubt he sees it that way.
Tuesday, March 24, 2009
New York City 2010
