LiquidSoapDispenser

Historic Financial Collapse Underway?

Very interesting article. One thing I wonder about is how you (and others) think high mortgage rates and very low housing prices are such a good thing (makes housing affordable). But there's no mention of the problems this would cause. If the value of most people's homes fall far below what they owe on them, we will see people walk away from them at a scale that makes today's foreclosure rate look like nothing. You think that won't be it's own catastrophe? You're gonna have to explain to me how this could possibly be a good thing, rather than just seeing the "affordable housing" side of that equation.