Can you sue your realtor if you think you paid too much for your house?
If I were an economist, I think I would say that the value of the house is exactly what you paid. I suppose you could have bad or misleading information, but it seems these folks are angry because it turned out they could have done better. Yeah, well, I feel the same way about my purchase of QQQ right before the tech bubble burst, but I am not suing the person who told me to buy it. ***I’m looking at you, MOM!***
Isn’t this the essence of a market? Especially in California, all you have heard for the past few years is that the market is “crazy,” which I take to mean unpredictable and weird. Thousands (millions?) of people had unpredictible and weird in their favor, but that means it is going to be crazy NOT in someone else’s favor.
I’m not an economist, though, so I should be sentitive to the fact that markets are social constructions, created by those in and around them and often reinforced and protected by law. And, markets often have unequal disparate impacts on people with less money and power than others in the same market. But the woman who describes herself as 114 pounds and owns a (roughly) $1.2M home in San Diego is not making me too sympathetic.
I should add that this seems like a standard tort tale which will, in the end net this woman nothing and yet fuel the litigation explosion MYTH. That’s right, myth. if you don’t believe me, you can read this, this, this , this , or pretty much anything by this guy .