I’m seeing lots of “I can’t afford to buy a house in SD *pout*”. Yeah no duh, housing is insanely expensive here.
If you want a cheap house, move to Detroit or Cleveland. You can buy one for under 10k; you won’t even need a mortgage.
For the rest of the country there will not be a bailout in any meaningful sense either and prices will come back to reality. How many dotbombs were bailed out after the tech bubble popped? The only bailout I got was 10 months of unemployment insurance after that meltdown.
If you don’t like your savings being eaten away by inflation, buy gold or open a foreign savings account somewhere with harder currency. If you don’t like the housing bubble, rent and short the builders and banks. Build equity while everyone else’s is going down the toilet.
America really is the land of opportunity. But you have to seek it yourself, no one is going to hand it to you.
