Our entire system depends on debt. Debt makes the banker class wealthy, and the banker class controls the government, so of course they will work to maximize our debts. Those of us who save will be penalized through currency inflation and taxes. Note the tax breaks for home buyers, this gives an incentive to go into debt.
Bottom line is if you are a saver, don’t expect the government to do anything to help you. The banker class hates you. The next thing they will do is to “fix” people’s loans in some sort of interest-only arrangement so that they can stay in their houses. This will keep people from selling and will help to keep a floor under prices. It’s a political win-win! They keep the prices artificially high and keep people off the streets. Of course the “owners” are little more than tenants but they always were. The only losers are us savers that had hoped to one day own our homes free and clear.
I’m starting to think that the smartest people of the last 10 years were the Mexicans who went and got 5 or 10 Matricula Consulars under phony names, bought houses under these false identities, withdrew as much cash as possible from each with MEW and then absconded with the cash down to Jalisco to buy farms. Pure genius! I wish I would have thought of that. And they’ll never get caught either.
Although I would like to own a home here, I am fully prepared for the case where that never becomes possible.
