Thu, 8 Nov 2012, 12:25pm PST
The future is here, were all just hoodwinked by asymetrical information
Some of us have been saying this is the new normal, a bifurcated market
Bottom end is everyone except for those atop the political privilegefood chain. There will probably be more common 40yr morts before this is over. Prices will align to incomes, but not to our desired nostalgic ratios that resemble affordability. All devouring rents here we come. People will merely shop to the monthly payment without disclosure of actual sales price. The norm will be 48% of net income goes to cover the shelter nut piti.
The high end shit will have no attachment to reality and the chazm between high end and low end will be 99:1 ratios. Gazillionaires buying up true fortress castles at prices that won't even be disclosed to the public. They will be tax exempt so not to hamper the job creating abilities of these gazillionaires
The high enders will own everything and to help the low enders they will use the tax revenue from the remaining few doing real work, to subsidized the poors rent, and double sec 8 funding. To save the taxpayer money, they will let us just direct deposit our paychecks in their bank accounts along with the sec 8 money and we all live happily ever after. THE END