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Category: Fashion, Style, Shopping
It's happened over and over again.
The stock market gets soft and housing prices start to boom.
Families get dragged in to the housing market at inflated prices.
I try to warn my friends, but every new housing bubble captures young people that weren't burnt by the last one. (The most badly burned families that I knews from the 80s bubble seem to have broken up and weren't looking for a 'house' this time.)
The news media (who's bosses, investors, and heavy hitters mostly own property from the beginning of the bubble) play up the gains to be made by playing real estate roulette (while hiding the fact that it is a pyramid scheme which will cost many families their financial security).
The worst bubbles we have seen in the last 25 years were blown up by income inequality of supply side economics. In the Reagan-Bush41 era and in our own.
Many families need a large increase in value to be able to refinance their interest only loans they have on their homes, and now it looks like that increase will not be coming around.
The big money is flowing to the stock market now working on a new bubble there while it flows out of the housing market leaving families stranded.
The mainstream news media (who's bosses, investors, and major players own stock from the beginning of the bubble) will play up the gains to be made flipping stocks (while hiding the fact that it is a pyramid scheme which will cost many families their financial security if they still have any after the housing bubble took so much). You could almost laugh at the irony.
The rich can afford the professional help, and the time to target their investments. Your boss is often sitting in the office working on targeting his or her investments while you work.
Oh is your family not wealthy enough to jump out of housing and into the stock market just like that?
Well, that's why you don't count to the Bush administration. Sorry.
5:56 PM
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