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Reply #13: I'll also add that the housing bubble [View All]

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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-20-09 12:52 PM
Response to Reply #10
13. I'll also add that the housing bubble
was the greatest credit bubble in the history of the world. You can expect overcorrection to the downside as a natural consequence of the bubble deflation. It is the normal course of business.
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  -Correct me if I'm wrong, but if we allow foreclosures to happen people lose their homes... Cant trust em  Feb-20-09 12:06 PM   #0 
  - Yes. And empty homes in a neighborhood drive down prices, too. n/t  EFerrari   Feb-20-09 12:08 PM   #1 
  - and then empty home become vandals targets........vicious spiral  Historic NY   Feb-20-09 12:13 PM   #2 
  - It must feel terrible to be in those decimated neighborhoods. Unsafe.  EFerrari   Feb-20-09 01:10 PM   #17 
  - Exactly.  AngryOldDem   Feb-20-09 12:51 PM   #12 
  - and then the state needs to use  Mojorabbit   Feb-20-09 12:16 PM   #3 
  - Yep, I am sure that  Andy823   Feb-20-09 12:20 PM   #4 
  - Ooops - the value of their home already fell 40%  FreakinDJ   Feb-20-09 12:26 PM   #5 
  - Yes, of course.  HiFructosePronSyrup   Feb-20-09 12:31 PM   #6 
  - Home prices need to come down  taught_me_patience   Feb-20-09 12:33 PM   #7 
  - What happens if the 9 million people facing foreclosure  Cant trust em   Feb-20-09 12:42 PM   #10 
     - I think the government should spend the money  taught_me_patience   Feb-20-09 12:50 PM   #11 
     - The 95% is partially true  Cant trust em   Feb-20-09 01:17 PM   #19 
     - But housing is a consumer good, not an investment. People should realize this.  JVS   Feb-21-09 08:38 AM   #22 
     - That's not going to work for a lot of people until wages catch up  EFerrari   Feb-20-09 01:31 PM   #21 
     - I'll also add that the housing bubble  taught_me_patience   Feb-20-09 12:52 PM   #13 
     - In Cannibal Capitalism, crashes are always Darwinian..  SoCalDem   Feb-20-09 01:15 PM   #18 
  - By The Other Responses Posted On This Thread You See The Vicious Cycle We'd Be......  global1   Feb-20-09 12:34 PM   #8 
  - House prices are overvalued by an order of magnitude.  billyoc   Feb-20-09 12:34 PM   #9 
  - People should stay in the houses out of pure public interest in avoiding homelessness and...  JVS   Feb-20-09 12:58 PM   #14 
  - That makes the most sense to me  Cant trust em   Feb-20-09 01:07 PM   #15 
  - Exactly. Also, homeowners deduct the interest on their mortgages. Renters don't get that write off  KittyWampus   Feb-20-09 01:10 PM   #16 
  - Yes. I think the people in trouble need to be looked at individually.  Vinca   Feb-20-09 01:30 PM   #20 

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