[quote=no_such_reality][quote=bearishgurl][quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down. …[/quote]If that happens, I’ll be loving it … regardless of the fluctuating value of whichever residence I own at the time. I’m too old to recover from any over-exposure to the “stock market casino.” :=0[/quote]

Except if the stock market casino implodes, CalPERs implodes and then the State and local Governments implode and Stockton will be a wishful memory.[/quote]

We actually already have a precendence of what happens to pensions when the local government can’t pay…Detroit, and rewriting pension contracts,so I really don’t think people need to worry about it.