Friday, September 01, 2006

THE GREAT HOUSING CRASH OF '07

http://www.counterpunch.org/whitney08302006.html

3 comments:

Unlisted said...

I work in Real Estate. He was making a lot of sense in the beginning, but lost me at the end with the police state stuff

Space Ninja said...

Police state stuff aside, if there is a housing crash within the next few years, what will our country do? Trillions of dollars from the middle class sector will be lost. With the current state of our country's wages and industries, how will the middle class recover?

Unlisted said...

In my opinion, if there was a sudden drop in real estate prices, I think that would set off a buying spree and the prices would recover again. The property prices can only fall (if at all) so far.

If a plum piece of property currently valued at $100K suddenly became available for $55K, how long do you think property like that would last on the market? The person who bought it, could probably sell it within days for $85K. And that person would feel like he got a deal.

The more I think about it, I don't see a CRASH happening. Perhaps a stagnation, but not a crash.