Good point Carlsbadworker, I had not factored that in. Yes EVERYTHING costs more today and our wages have stagnated for decades.
It is obvious that housing must come down even more to compensate for the lost income.
Its a classic deflationary period and neccessary. We cannot possibly continue to pay higher costs for everything while wages stagnate now can we? So the things we need (food, gas, etc.) may go up but the things we don’t need will come way down (flatscreens, overpriced houses, cars, economic wisdom from carlsbad workers, etc.)
Hasn’t anyone on this board read a peep about Japan? It’s all over the news… right now! We are going down the same path as Japan.
