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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Bonefish who wrote (110136)3/14/2008 6:13:58 PM
From: patron_anejo_por_favorRead Replies (1) of 306849
 
Think of someone in their 20's or early 30's who's trying to do the right thing, work, save, buy a home the right way. First they got screwed by the bubble running up prices (unless they foolishly overextended themselves and used NegAm or other subprime vehicle and barely qualified). If they managed to avoid that trap, now their savings are getting debased almost daily by the Fed and the government ramming super irresponsible fiscal/monetary policy down their throats. It they somehow get past that, then they'll have huge deficits to pay back in taxes and reduced services for the rest of their lives....

To quote the late great Gram Parsons (from The Gilded Palace of Sin, "My Uncle"):

Well I'm headed for the nearest foreign border
Vancouver may be just my kinda towwwnn.
'Cause they don't need the kind of law and order
That tends to keep a good man underground!
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