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Sell high, rent low: The Bubble Sitters
http://www.bankrate.com/brm/news/mortgages/BubbleMain.asp
Submitted by
PeteD
8 months, 1 week, 5 days, 14 hours agoAn old story from 2005 about the Housing Bubble in the USA, and some of the people preparing for it. The article is interesting reading and contains some great quotes from 'reputable' sources. **Notice any parallels with Australia today?**
#1 - By PeteD, 8 months, 12 days, 14 hours ago.
Sorry, I put this in 'Geopolitics' category by mistake
My favourite quotes are from Fannie Mae and Greenspan. #2 - By cij, 8 months, 11 days, 14 hours ago.
Haha..... saw this paragraph:
---- That's in 2005 and we knew what happened next. #3 - By PeteD, 8 months, 10 days, 10 hours ago.
Exactly. The parallels to our own housing bubble are quite interesting I think. Because they are EXACTLY the same arguments, from exactly the same types of sources.
Still, our Gov. does seem intent to keep the RE bubble inflated, and even though it is a battle they cannot win (in real terms anyway), the extent to which they try to keep the bubble inflated will (by some proportion I believe), detrimentally affect any economic recovery that will take place. (That was a somewhat obvious statement) The Gov's shenannigans have so far put small businesses under extreme pressure (interest rates, increased employee payouts?). I really don't know who they believe will be pulling this country out of recession/depression. It certainly won't be the financial sector. |
