vagrant_joe

Even After the Bailouts, Housing is Still a Mess

Risks run both ways. Some folks took risks on buying homes 2-3 years ago with the thought that home prices would continue to increase and they would make off with a good ROI (sometimes with no money down at all). Others took the risk of not buying and possibly seeing the prices of housing running up to a level that those individuals could be priced out of the market forever (like the 1970's steep increases). Not that the author is doing this, but Paulson/Bernanke and other crooks are making it sound like they are alleviating risks took by investors -but this can only be done at the expense of others that took risks (and, should be rewarded accordingly when markets show favor to their strategy). Those that have saved money are being robbed through purposeful devaluation of the currency by those that believe that some folks risk taking is more important than others. This is not right -it can not even appear to be right. There is rhetoric which can be used to try & justify such events -but, even the rhetoric doesn't feel right. There are meltdowns in all markets -otherwise we wouldn't have seen DRAM price crashes in the early 2000's, crappy CROCS sandals prices falling through the floor, and liquidation auctions on Dovebid. Maybe the early bird gets the worm -but when that early bird has eaten too many worms and can no longer fly (too much debt), then there are coyotes and other scavengers that snack on good, plump birds. It's an ecosystem, just like any other -and when you screw with it, there are broad ramifications. Please urge your congressman to protect capitalism, not interfere with markets, and let risk takers from all sides have their fair share at working within the market.