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Peter P
2006 Apr 11, 11:38am
Peter P
2006 Apr 11, 11:38am
Are these places considerably cheaper to run compared to apartments and thus produce enough economic benefits for both the trailer owner and the trailer park owner?
We should just make apartments more appealing. Why should they even have things like "on-site laundry facilities"? I thought it is the 21st century!
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1. Congress enacts/President signs new Tax Code into law (1997) subsidizing real estate speculation? Check.
2. Cabal of arrogant Fed bankers/Washington politicians/Brokerage firms ignore (or actively encourage) massive Dot.com stock bubble? Check.
3. Aforementioned stock bubble imploding in Fed's/Pol's faces (2000)? Check.
4. Extreme Fed/Pol fear of damage to the rest of the economy by ruptured stock bubble and willingness to flood economy with ultra-cheap credit (to inflate new bubble)? Check.
5. Massive GSEs market intervention, allowing private mortgage lenders to shift default risk from themselves onto taxpayers, FCBs & institutional investors (using the magic of MBS/CMOs)? Check
6. Complete erosion of lending standards, thanks to Fed's easy credit + GSE's MBS/CMO mortgage risk transfer? Check.
7. Cabal of arrogant Realt-whores enforcing monopoly MLS, gaming the numbers and lobbying for federal protection? Check.
8. Public's unshakable faith in the impregnability of real estate ("it never goes down")? Check.
9. Public's complete lack of historical memory, understanding of credit bubbles, the Fed/GSEs, business cycles, etc.? Check.
10. China/Japan underwriting much of our toxic MBS/CMO debt, while secretly hoping we fall on our asses? Check.
11. International carry-trade spawning RE bubbles all over the globe, thanks to ultra-cheap $USD ? Check.
HOUSING BUBBLE, YOU ARE CLEARED FOR TAXI
Discuss, enjoy...
HARM
#housing