The financial/housing crisis is far worse than we are aware of as yet, and it will get worse than it is once all the bail-out and freshly printed money has been distributed. Too much cheap money that was not always fairly earned got us into this mess, and the solution of more of the same will not help us recover.
Now it's toxic debt, some unknowable evil, and we're going to own it. We need the geniuses that created it to stay on at fortune-sized payscales. Washington is really looking out for us. Quick, another trillion or two.
Since trillions are being conjured up regularly, let's do what they say we can't: Hand money to real people to pay off their bills and debts. We're creating debt to pay debt anyway.
Money is a token of useful production. Financial engineers adjust that real money in their attempts to deal with credit and produce products that enable us to save or borrow, as we wish. As long as the engineered money is proportional to the whole, fine: but the past years have seen a disproportionate amount being constructed into houses of straw, arid landscapes and other items of apparent but worthless value. Now we are having to account for it, and until we do, we can expect more financial pain. Let's use this time to return to a system where real values matter, and in doing so make the politicians and financiers aware that we expect them to contribute real value too. San Diego real estate
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“We’re nearing a plateau” – this is wishful and dangerous thinking. We’re not even halfway through the subprime resets, and starting next year a wave of even more toxic Option ARMS will start resetting. Home prices will be falling for the next 10 years. Buy a home to ENJOY if you must, but don’t look at it as a get rich quick investment.
San Diego California real estate agent
I think what we need is a discompassionate conservative, not a bleeding heart liberal or compassionate conservative.
Hoodia Gordonii
Most of you are conditioned sheeple. The majority of homeowners did not buy in the last 3 years. The majority of homeowners have plenty of equity in their homes. It’s a very small group in trouble. Those in trouble will become renters again. Owners with equity will buy up most the foreclosed homes. Renters: look for the notice that your rent is going up. The rich get richer the poor get poorer. Pay attention.
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