richardhutnik on 11 August 2010
| numonex said: High debt-finance based on unlimited credit to feed high consumption. Little or no savings in the bank. People were living way beyond their means. Negative equity, reverse mortgaging to fund materialism. Real estate agents: "Property values double every two or three years and make you rich from doing nothing. Buy a house, guaranteed to get rich and you do not have to work. Real Estate prices never going down in value. Renting is dead money" |
When a portion of the economy gets out of line with the rest of the economy, a correction will follow.
