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Tru dat!

david_mcmanusdavid_mcmanus
edited May 2008 in The Economy
Most of us understand that an overabundance of cheap, easy credit created a housing bubble that artificially inflated the price of land and housing, produced too many homes and homeowners, and persuaded too many Americans to dip into their home equity to support a lifestyle their income could not sustain. Now that the bubble has burst, we are coming to accept the reality of lower prices, reduced production, declining homeownership rates and the wisdom that a house is not an ATM or a substitute for a retirement fund.

http://www.washingtonpost.com/wp-dyn/co ... omponents#

Comments

  • TJ_98370TJ_98370
    Good article David. I noted that the author is one of those who are predicting significant inflation. It seems like the ranks of those who believe we are in for bout of inflation are increasing.
  • david_mcmanusdavid_mcmanus
    Yeah, now make sure to go and spend, spend, spend those stimulus checks!
  • UbersaladUbersalad
    what stimulus check? oh, the one I used to fill up my tank for the Memorial Day weekend trip?
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