There are so many multiple problems there. He admits his. I wish that these two groups would both realize their problems in these transactions:
(A) banks and
(B) the people telling him the homes were worth $100k more than the selling price.
It takes more than one person to make these specific bad deals close. This is the whole reason I started my housing thread. To point out that housing prices don't always go up.
Originally posted by: yowolabi
This dude is insanely optimistic, which is usually good. Probably not so good if it's mostly false hope. It seems to me that his debt is increasing faster than any money he can make.
Optimism = not anticipating bad things -> not preparing for the worst -> when bad things happen, they are horribly bad.
Pessimism = anticapating bad things -> can mean preparing the for the worst -> when bad things happen, they aren't bad at all and if good things happen you are very happy.
Pessimism for the win. Pessimism DOESN'T have to mean negativity. From the dictionary: "the tendency to see, anticipate, or emphasize only bad or undesirable outcomes, results, conditions, problems, etc". The tendency to anticipate bad outcomes. Hmm, if you can anticipate them, you can prepare for them. No where does it say you must have a negative attitude. People just often falsely associate pessimism with negativity.
The reverse is true for optimism: "tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome". If you only expect the favorable outcomes, you really aren't putting enough effort into preventing the unfavorable ones.
I've been called the world's most pessimistic person and the world's most optimistic person. Why? I'm a pessimist who is always happy. I'm always prepared for the bad stuff, so bad things never do much harm. The rest of the time things turn out so well that I'm just almost always very happy. People confuse happiness with optimism and unhappiness with pessimism.
