Monday, December 12, 2011
How did Bush cause the housing market to collapse?
I think this is an answer you haven't gotten yet, and makes a whole lot of sense to me: No one caused the bubble to burst in the housing market. Since I've been an adult I can tell you with a reasonable amount of certainty (due to the fact that I was here and being affected) that housing bubbles have deflated at least four times in my life. I ume as a way to kind rinse out an over abused market, returning it back to something manageable. Back in 1981 you could buy a house in Detroit with a Master Card due to a depressed market. In 1972 the housing market was so trashed people were leaving their states in hopes of finding a cheaper place to live. And although I don't recall all the particulars after Bill Clinton's terms, but there was a crash in the technology market causing yet another housing burp. But in the end, it seems to me that, this crap happens when the market is flying high with investors, flippers and real estate companies making the big bucks, and then it all goes away with prices dropping and people losing their homes. While we continue to blame the politicians I would be more inclined to think it's all about the profiteers and those trying to "make a killing in real estate" that causes most of it:) Just my opinion:)
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