And you thought you were having a bad day?

"Slip sliding away..."

I really DO feel sorry for the folks that live in this neighborhood. It would really suck to watch your house disappear, more or less. Kind of like it feels to watch a house burn, I bet. Hurricanes and tornados, at least you don't have to watch.

It would especially suck if I had just signed a mortgage for one of these suckers ($3 ~ $4 million) and now it is a pile of kindling. I heard this morning insurance doesn't pay in this instance. Bummer.

But that leads to a question - what idiot would buy a house on the edge of a cliff in an area known for landslides? Or on Carolina Outer Banks? Isn't that just asking for problems?

Oh wait, I know who. The idiot that knows they can secure a below market rate loan from the Feds to rebuild better than before. Who funds the loan? Other idiots like me.