My father owns a commercial building that houses small businesses. That is the basis of his retirement much more than the IRA, 401K, hedge fund schemes.
The reason I started on the forum rather than respond to the hysteria of this blog was to bring some reality to the discussion.
Some one asked for data and at
http://www.geohive.com they track the world population at about six billion. This is a reality.
How many of you guys bought oil futures when George Bush invaded Iraq? How many of you guys bought Microsoft stock when Bill Clinton, and Al Gore made that speach about having a personal computer in every household? How many of you guys sold your Microsoft stock when the Federal Government made it clear they could not allow the business practices of the company?
You are all talking about the Feds discount rates and the banking industries explotation of cheaper money. The banking industry is highly government regulated. Now I'll remind you again of George Bush's speach where he uses the high Home Ownership rate as proof the economy is doing great.
If you follow government activity over the years it's easy to make fortunes. It's much easier if you are the corporation that is the beneficiary of government action, such as Haliburton.
The thing that keeps coming to my mind about many issues facing America today is; what if our government allowed more people from China to immigrate here legally? Not a whole lot, just a few million people of high standing or wealth coming to America to live.
Hey, how many dollars do the Chinese have invested in America? I won't bore you with data, you can look it up, it's pretty easy to do, it's counted in billions and trilions.
If your claims are true and the housing market is horribly manipulated to drive up values, or inflation, causing recession, or depression, it can also be manipulated to make equity. If there is manipulation in the housing market, and I agree there is, why are you concerned about the outcome? The only reason for any of the lending melt down is to create losses.
I'm always fascinated when people talk about losses in the stock market or hedge funds or especially in housing. Where does the money go? Is it lost in the couch, or under the floor mats?
The thing about Real Estate is that it is a real tangible asset. I might walk away from a high payment and some one else comes in to renegotiate. The asset, the house, doesn't go anywhere to get lost.
In terms of demand, I think there are millions of people in this country already who will buy a house and pay for it. I think there are millions of people who never thought they could buy a house who will now get the oportunity.
Will the market correct, absolutely. Will it fall by twenty per cent, of course. Will the market fall below the straight line of appreciation, maybe. Will it return to normal, definitely. The world is invested in the United States. People want to come here because we have hot water for thirty minute showers. We have roads that aren't all messed up the way they are in most of the world. Demand for America will remain secure.
Now about Flavor Flav:
Fight The Power
Shocklee - Sadler - Ridenhour
1989 the number another summer (get down)
Sound of the funky drummer
Music hittin' your heart cause I know you got sould
(Brothers and sisters, hey)
Listen if you're missin' y'all
Swingin' while I'm singin'
Givin' whatcha gettin'
Knowin' what I know
While the Black bands sweatin'
And the rhythm rhymes rollin'
Got to give us what we want
Gotta give us what we need
Our freedom of speech is freedom or death
We got to fight the powers that be
Lemme hear you say
Fight the power
Chorus
As the rhythm designed to bounce
What counts is that the rhymes
Designed to fill your mind
Now that you've realized the prides arrived
We got to pump the stuff to make us tough
from the heart
It's a start, a work of art
To revolutionize make a change nothin's strange
People, people we are the same
No we're not the same
Cause we don't know the game
What we need is awareness, we can't get careless
You say what is this?
My beloved lets get down to business
Mental self defensive fitness
(Yo) bum rush the show
You gotta go for what you know
Make everybody see, in order to fight the powers that be
Lemme hear you say...
Fight the Power
Chorus
Elvis was a hero to most
But he never meant shit to me you see
Straight up racist that sucker was
Simple and plain
Mother fuck him and John Wayne
Cause I'm Black and I'm proud
I'm ready and hyped plus I'm amped
Most of my heroes don't appear on no stamps
Sample a look back you look and find
Nothing but rednecks for 400 years if you check
Don't worry be happy
Was a number one jam
Damn if I say it you can slap me right here
(Get it) lets get this party started right
Right on, c'mon
What we got to say
Power to the people no delay
To make everybody see
In order to fight the powers that be
(Fight the Power)
You are all looking at things one way, from one perspective. You're lost in a wageslave merry go round of colored lights and pink ponies.