[quote=EconProf]
Relating all this to the housing price booms of the late 1970s, late 1980s, and late 1990s, those investors who jumped in and bought in mid-decade made out very well. It is interesting how the price decline or leveling out happened at roughly the first half of the following decade. Timing is everything.[/quote]
exactly the problem, a few lucky people got massively rich and everyone else lost their retirements, homes, jobs, etc. It is a rigged system with no predictability owned by a group of small wealthy men. This rigged system is bad for 95% of the people.[/quote]
Let’s use some simple logic here.
If x% got massively rich, then everone else consists of 100% – x%.
Suppose 2% of the people got massively rich, then according to your statement the remaining 98% must have lost their retirements, homes, jobs, etc.
I may have the numbers wrong (i just guessed), but I would be interested in seeing the data that indicate the actual percentages.
Can you cite a source ?
Thanks in advance,
FSD
P.S. – Maybe the trick is in the etc. (if we assume etc is stuff like losing their TV remote, or their wallet, keys, glasses, or perhaps lose their way I guess it could be correct)
