More housing bubble stuff....

[Wcross]

http://www.dissidentvoice.org/July05/Whitney0727.htm

" I sold my home for one reason: George W. Bush. He and his protégé at the Federal Reserve have submerged the country into a morass of “unsustainable” debt, disrupted the nation’s economic equilibrium and thrust us towards fiscal disaster. They’ve also generated a humongous housing bubble through their irresponsible and self-serving manipulation of interest rates."

snip

“A study by the National Association of Realtors (NAR) found that 23% of all American houses bought in 2004 were for investment, not owner-occupation."

Lets see, wages are flat but housing "values" are rising at 15% a year? I may not be the sharpest tool in the shed but even I can see that this isn't sustainable.

[Bush_Eats_Beef]

1. It's where a lot of the "dot com" money went.

The "23% of all American houses bought in 2004 were for investment, not owner-occupation"...the "house flippers"...

Remember "Pulp Fiction?" Remember Marcellus Wallace?

The "house flippers" are Zed.

The people who are actually trying to afford a decent home in a decent neighborhood to LIVE IN are Marcellus.

That's all I've got to say about that.