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Aug. 13, 2008

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THE SKY IS FALLING, THE SKY IS FALLING! There is NO "HOUSING CRISIS". The prices of homes skyrocketed artificially based on ultra-easy credit, no downpayment loans and speculation. People like the pastor here thought they were economic gurus and would make a mint after 4 years.

Well guess what, prices go up and prices go down. It's natural. Bust follows boom.

If the price of gasoline was going down would people claim there is a "national gasoline crisis"? If the price of food or clothing was going down would they say there is a "food crisis" or a "clothing crisis"? NO! This is ridiculous. Low prices are a GOOD THING.

Housing is just becoming more affordable after years of being in unafordable bubble territory.

It's better this way. In the future hopefully, americans will have to pay a smaller percentage of their earnings on housing.

(Suggest removal) 8/13/08 at 1:49 p.m.

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