Ah…. the good old days……
Real estate is a business. Letting amateurs run amok with “no money down”, “interest only”, no proof of income, adjustable rate mortgages, etc. only tells me that the perpetrators and their ignorant victims got exactly what they deserved.
Except Oba mama paid them back! Matter of fact he gave the biggest gangsters millions in bonus’ with our money.
Think they learned their lesson? Of course not! More money is coming. The gangs rule the politicians and they need more of our money. No one has deprived them of it yet. That’s what quantitative easing is all about.
See why I’m convinced we will have another boom? it’s pouring fiat money into the system creats the next boom which will be bigger than the last and the next bust, 5 or 10 years from now will be even more massive.
You get exactly what you deserve in the long run and we deserve it all for voting for these scum bags.
P.s massive unemployment is with us for the rest of our lives. Business needs customers not tax cuts. You can’t hire people with out income. Can’t cut your taxes if you don’t have any because you don’t have customers. Your customers are broke, jobless and scared shit less and will be for many years with out government stimulus because paying off debt , saving up and improving your credit rating takes time. Years!
Might better send us a big check now because it will have to come sooner or later to save Oba mama’s ass in 2012.
Elena December 14, 2006 at 1:03 pm
I hate to be cliche, but real estate is all about “getting in the game.” While houses all go up in price, there is some value to be had in the equity that you build up over the years. That equity is what allows you to trade up when you’re ready to move on. Speaking as a resident of South Florida, I am painfully aware that the longer I waited to buy, the harder it would be to ever afford anything at all.