However I have a very unsettling feeling that the lesson learned will be that those with the gold rule and the house can rig the game alot longer then joe six pack can save a few thousand a year to add to his downpayment.
In short the government and the banks will continue to be the house and bend the rules to thier own liking. Holding a couple hundred thousand homes for a few years is not to hard to do when trillions of taxpayer money has been pumped into the system, and/or accounting rules may be changed into your favor.
I am now starting to lean in the direction that this market is indeed so manipulated that runaway interest rates will be the only thing that can push pricing down in a heavy manner.
