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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (109182)	3/1/2010 2:59:20 PM
From: skinowski	5 Recommendations Respond to of 116555

as rates climb, people can afford less home, and thus home prices should decline. Not only do our politicians keep interest rates low, but they chip in several thousand dollars of taxpayers money when a house gets bought - all in order to keep the selling prices high. RE is very expensive in historical terms in many parts of the country. Prices need to decline to a level where housing would become affordable for young families. But -- our leadership thinks that prices should always go only UP. Any decline goes against their religious beliefs. They are on a Holy Jihad against any prices finding their bottom - EVER.