inflation is real. If you buy a home in Dallas for 100k in 1982 and you sell its for 200k in 2002 you made 100k in profits. Accounting for inflation it is a lousy ROI.
I doubt foreigners are buying property in interior San Diego. Chinese are buying mortgage bonds. Certainly first generation immigrants from India/China are buying in the good school districts of Silicon Valley.
why are these minority groups licking the asses of the liberal elite in the Democratic party ? Especially when the environmental types have run up the cost of housing in California ?
It is true that the politicians, bankers, homeowners (who borrowed) are on the same side. The only way they can come out winners is to inflate the US currency. The buyers of the mortgage bonds are the biggest losers. They are the only thing between the US govt bailout of these sub-prime borrowers.
The question to fellow boarders is what do with cash. I have lots of them.
