[quote=patb]
2) Housing consumption will decline. the 5,000 SF McMansion will either be redone as a duplex or, the homes of the 70’s will come back in vogue.
There is nothing wrong with a big house, or a nice house, but big and nice?
3) That pointless one upsmanship consumerism will decline. While perhaps people will still buy new stuff, the idea of putting a 5 grand flat screen on the credit card will go away. I bought a 42″ LCD for $325 used, that was awesome. I bought 2 suits for 250 dollars, that was awesome.[/quote]
This has always been popular for those who want to save money. What you’re describing is nothing new. However, I do not foresee this behavior becoming popular, IMHO.
[quote=patb]Bush and Greenspan filled the system with air, it is bound to keep leaking out.[/quote]
So it’s just Bush and Greenspan who did this? Obama and Big Ben has nothing to do with it?
