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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: KyrosL who wrote (25571)12/1/2004 7:42:51 PM
From: Elroy JetsonRead Replies (1) of 306849
 
In your imaginary world, where the indigent pay cash for their modest homes and only "wealthy" people need a mortgage to purchase their house, you can make a case for a non-normal data set. This must be why the FHA cannot find anyone willing to accept a mortgage as small as $300k, or so you imagine.

This is indeed typical of the sort of self-congratulatory nonsense that forms the basis of most of Grace's arguments. The sort of clown-world logic where tax-cuts paid for with debt somehow magically make the economy more "efficient" -- presumably because Monetarists like Grace, and Cheney, believe debt doesn't matter.

Debt always makes everything better, with the only problem being how to create more debt, thus increasing the "money supply" which is the source of all wealth -- or so Grace would have us believe.

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