I am glad that you, as a homeowner and stockholder, would love to see our economic system artificially buoyed so that you can continue to enjoy hefty profits. Who do you think will have to pay for our excess consumption? If you want to dance, you have to pay the band…eventually.
To tell PS to cool the rhetoric just shows how much you have become de-sensitized to the outlandish increases in home prices over the past decade. To recap, a 50% reduction in current prices would bring us back in line with the historical mean. I repeat, historical mean…not a rock-bottom, price-you-only-get-in-a-depression price. Are you telling realtors to cool their rhetoric when they say that a home is worth 300% more than it was just a few years ago! No, because you, along with the realtors and others, have a financial interest in home prices being so high. But you know what, middle class people like me aren’t buying it anymore…literally.
Compare a 300% markup to a 50% drop and then tell me who needs to cool their rhetoric.
