JoB
You may be able to make an argument for an inflated housing market… and the need for correction…
though we haven’t seen the bottom yet… and if it equals phoenix we are in real trouble…
i am wondering what common folks are going to be able to get loans to finance these housing bargains?
and what common folks are going to do when their loans are called because the equity is half what is owed… how many will have the resources to bail themselves out?
that is, if they still have jobs and have been able to make their payments…
How many common folks could sell the houses they live in.. even if they own them free and clear.. and move to phoenix to cash in on these bargains?
and if they could, do they have the financial resources there to survive without a job.. because the unemployment rates there are impressive…
i don’t think there is much opportunity here for the common man.. but it is an investor’s dream.
calling what is happening in the housing market a correction seems more than a bit optimistic….
but….
how do you explain away retirement accounts that are worth considerably less than the participants put in them?
Keeping those accounts captive in the stock market subject to professional money managers hasn’t turned out so well ….
I don’t think this is about blame…
i think this is about taking stock and realizing that what has been happening isn’t working…
and that putting some regulation back on the books and enforcing them isn’t socialism… but prudence…