What does everyone think about these protest photos? Will it ever come to this here? If not, then why not? Isnt SOMEONE responsible for what is about to be catastrophy for so may (foreclosure/bankruptcy). Or will we be doing the “blame the victim” thing. “They should have known better than to take a loan like that” etc.?
My favorite is on page 7 or 8 – the guy sitting in his “minicasa”.
Apparently owning a home (vs renting) is highly valued in Spain, and the younger generations are ticked off because of the wild speculation – many many homes sit empty while they are stuck living with parents since incomes are nowhere near what is needed to buy the average home. So… they took to the streets to protest.
What ever happened to “dontbuyahouse.com” ? Working on it still?
YES ! Expect this to happen here by 08, after the ’07’ ARM majority reset. Revolutions are started this way. Better start dusting off the guillotine, Viva La France.
Lookoutbelow – Have you read the series of books about Josphine Bonaparte – by Sandra Gulland? I read them both before and again after 9/11. It was spooky to read them after – so many parallels to our current situation politically – add to this RE collapse, healthcare costs, stock declines, pension reform(theft of pensions from the worker) and we really are setting up for public unrest. Hopefully not of the guillotine variety.
“YES ! Expect this to happen here by 08, after the ’07’ ARM majority reset.”
I have no sympathy for people who over leveraged themselves. No one forced them to buy; it was only their own greed and neglect to adequately research & plan that put them where they are. While I haven’t tried applying my very rusty spanish to the text of the article, I assume that these are young adults who are effectively priced out of the market thanks to “irrational exuberance”. For these I have much empathy.
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