My perspective is that people who have been extraordinarily greedy deserve to be extraordinarily punished. When someone pulls out home equity and goes to the desert to buy that “investment” home, who are they hoping to capitalize on? The same “young” people you mention in your e-mail. I want the same thing you do…I want those poor innocent young to be able to buy a house for shelter, rather than an investment. I recognize that there will be some lives ruined…it certainly won’t be my fault or yours when that happens. There WILL be some people responsible, however, who will NOT recieve any punishment for their sins…the “economists” of the RE groups, the PERMA-BULLS, and, yes, the lowly RE agents and mortgage brokers who have NO-ONE to answer to, even while providing “investment advice”.
Happy…I am not…nor will I be. This bubble should never have been allowed to develop, nor should have NASDAQ 5300+…by getting involved in a grass roots way, I feel we can alert some folks who would “march over the edge” forever oblivious to what they are doing.
Watch out for those canes over there…I understand they can be a bitch.
