ferkco (December 31, 1969 at 5:59 pm)

I think its pretty easy. People's incomes now can't pay the monthly mortgage cause now its service industry. Why do they want to keep prices high on houses people can't afford to buy. I guess its so the neighbors houses won't depreciate as fast. What I'm saying is everybody is going to be living in multi million dollar houses soon but a loaf of bread will also cost $10. Basically I think we are going the way of the peso so our money will then be equivalent to the rest of South America. So sad.

atencopic (December 31, 1969 at 5:59 pm)

The Jewish bankers who caused this need to be held accountable:Lloyd Blankfein: Chairman & CEO (Goldman Sachs)Martin Feldstein: Director (AIG)Alan Fishman: CEO (WaMu)Richard S. Fuld, Jr CEO (Lehman)Stephen Roach: Managing Director & Economist (Morgan Stanley)James E. Cayne: Former CEO (Bear Stearns)Alan Schwartz: CEO (Bear Stearns)Alan Greenspan Former Chairman, Federal ReserveBen Bernanke Chairman, Federal Reserve

GenXFuturist101 (December 31, 1969 at 5:59 pm)

I predicted this some time agoGooglehome ownership & rational regulation& follow the America Debates forum link

flatsignedbooks (December 31, 1969 at 5:59 pm)

In a world financial collapse, where are you going to go?

bluejay02920 (December 31, 1969 at 5:59 pm)

the economy will crash and never recover. Best deal is to escape to another country

gjsterp (December 31, 1969 at 5:59 pm)

The builders won big time in California for the last 8 years and so did the real estate people, as did the State.They already made their money, and were delivering for the most part defective housing, using cheap labor - mexicans.I saw the crews working on there house. One white guy to 5 latinos.I doubt they were paying the latinos the same wages as the white guy.Besides the latinos for the most part are very hard and reliable workers.This is coming from a white guy.

gjsterp (December 31, 1969 at 5:59 pm)

Not true. The builders have been winning in California the most, since the housing boom, which began in about 2001.If they bought their land cheap as they were building the prices were going up.Once when I was pricing the price went up $11K in a week. So they made out. Yes, they are losing now.That is the chance they take.They were also buiding home to sub standards and using inexperienced labor, which added to the problem or defects.Keep in mind as these prices went up, labor costs did not

crashoppe (December 31, 1969 at 5:59 pm)

the builders dont win.

crashoppe (December 31, 1969 at 5:59 pm)

I'm in the building trade. We have been fabercating homes for about $70,000 that are sold for about $225,000 in S.E. Michigan. In essence, with finacing, the home is sold for $600,000/30 years. What has wallstreet been doing with all the profits? At a monthly payment of $2,000 the home mentioned is paid for in 35 MONTHS (2 years 11 months). the rest is intrest, finance charge, closing costs,,,,,,,Ron Paul '08!!!!!!!

monkeyman1140 (December 31, 1969 at 5:59 pm)

Don't be an idiot, rich people on wall street caused this. They were given trust through deregulation and they abused that trust. You paid the rich people for the bailout so now you pay your mortgage twice, perhaps 3 times.Enjoy your homelessness!