Morality & capital
I want to be a whale. I just want to do it nicely - keeping a balanced life, my partner happy, not stuffing others (ie. buy from natural disaster victims) etc.
I read this a few times after the floods in the papers where agents said they hung up on people making offers for flood effected homes etc.
How is that immoral?
Someone needs to sell a home and someone is prepared to buy it in the face of adversity.
Of course they are trying to take advantage of a bad situation but if they do not the home does not sell at all and perhaps the bank sells it eventually in stead. This is not a good result for the seller...
I cannot see what is immoral in that?
I should add though you seem to hold the same view as many in the Australian population. I just do not know why??? Sure if someone is greiving they do not want to be pitched to but if they want to sell their home they have to sell it to someone and I suspect while you would not want to buy off say a flood victim for moral reasons nor would you want to pay the pre flood value either, after the flood at any rate.
And why am I different from financial success stories? I think mostly risk aversion. When I first hit shares in 2000 I saw the tech wreck. When I next hit them after just loading up in a bank deposit in the intervening years I hit 08 crash. Luckily both times I did not lose much as I had nothing significant to lose in 2000 and only started getting back in in 08 but it would seem the only way I can make money with my own coin is in Bank Deposits. Also the sure and steady rise in a deposit and projecting it out to some distant date is comforting, it will nearly be a shame to spend it this year or early next on a home...
Plus I have a pathalogical disorder where if I own shares I have to check on them 20 times a day affecting my day job which for the forseable future I will need to put weetbix on the table...