I don’t think a depression is irrelevant, you are right it could hurt a lot of people. My point is that let’s not make real estate the scapegoat for our country’s economic woes. If anything real estate helped buoy the economy unnaturally. Now let the chips fall as they may. America’s economic problems are far more deep to be able to say that the real estate bust is the cause of all the problems that we may seen in the future.
