Is idiot too strong a word?

Watch this video. 2:30 of solid entertainment.


Classic. Simply classic example of the greed, stupidity and irrationality that occurred in Las Vegas.

These idiots camped out overnight to spend $800K for a cookie cutter 4 bedroom home on a postage sized stamp so small you could touch your neighbor from your back yard. Now all their neighbors have foreclosed and they live in a ghost town. They think the house has only dropped $300K in value. Good one lady. If it's worth anything over $300K I'd be very surprised. Come to think of it as it stands, its value is $0 since nobody would ever consider buying there. Who in their right mind will buy a home in a community where every house around you is empty and the HOA is broke? I wouldn't even want to rent in a place like that since there is a good chance my landlord would go belly up and I'd have to move.

These kinds of communities are doomed. Historians will look back on this era and think WTF were people thinking building 4000 sq ft homes in the middle of a desert to be occupied by 2 people? I predict these and other types of communities will eventually just be bulldozed over and replaced with more reasonable houses that make sense. Houses that are 2000 to 2500 sq ft on large sized lots that someone may actually be interested in buying and won't cost $1000 a month to cool in the summer. And no I'm not exaggerating at $1000 a month. My house in LV was barely over 2000 sq ft and the electric bill was close to $500 in July.