A Real Estate Speculator Goes From Boom to Bust

[sweeps]

The home foreclosure business was very good to Todd Haupt. He started buying and flipping foreclosed houses in 1994, when he was 20, and by 2000 he graduated to building homes....

Then, last May, the real estate market stopped booming.

NYT Article

[jodi]

I find it incredibly sad that people who were making so much money (hundreds of thousands per year) are now totally broke. If they had just put away even ten percent of that during all those years of the boom, there'd be nothing to worry about now. Sad.