The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: koan who wrote (202548)	5/15/2009 11:02:15 PM
From: Skeeter Bug	Read Replies (1) of 306849

>>Our society loaned money to private business and we put everyone back to work doing things our society needed and so by the 1950's both personal and govenrment debt were low. Personal debt went straight down for 18 years from 1932 to 1950.<< so the fact that we had a huge manufacturing base and a world that wanted our goods had little to do with it? we've off shored our manufacturing and the rest of the world doesn't want much of our stuff. we are in trouble - and now we are in trouble with a few trillion in extra debt. >>We had grown out of the GD with lots of government stimulous which funded new businesses and infrastructure.<< a strong manufacturing environment existed and a world that wanted our goods. we produced our way out of the GD. we can't do that now - the world has changed. china might be able to do it, but not the debt slave united states. >>If one takes out a loan to buy and boat and then catches a lot of fish, they make money for temsleves and contribute to society. And if the government makes that loan, eveyone wins as the fisherman pays back the loan----with interest.<< if too many people take loans to catch fish, the market for fish collapses. if you offshore all the fishing, well... back to the point - the banks are acting rational now. my home has dropped $220k in value and their is still no way i would ever pay its current appraisal for the home - and my wife and i do pretty well - about double the average income for the area. the house is above average, but nothing too special. the collapse to rational values is going to continue. i hope you saved money from all the bubble income you should never have received in the first place.

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