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In Defense of Casey Serin
Casey Serin just doesn't look the part. Soft-spoken, articulate, and terminally well-dressed, Casey delivers blogs and interviews about his predicament as though he were talking about a trip to the dentist. But this is no dental checkup; I'd trade my situation for a drilling sans Novocaine in a heartbeat if I were him. Casey is, of course, the you either love him or hate him casualty of real estate fever who now owns several properties, owes a couple million dollars (what's that in rubles, about 54 million?) and has a negative cash flow in the twenty thousand-a-month range. His position in the aforesaid properties is upside-down, of course, hence the casualty label. Upside down means that the properties aren't worth what he owes on them, for the most part. So far, he has lost something like six properties to foreclosure. According to his blog, the next one (foreclosure, that is) is scheduled for today.
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posted by Roy Juanita @ 2:23 PM
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