.............................................................................................
face motherfucking palm
You just completely ignored the downswing of the cycle AGAIN.
The only slightly correct part of your argument is that a bust isn't necessarily bad, it's just a correction of the price. However, it would have been better to not have the bubble in the first place because it doesn't fucking matter how affordable houses became due to the bust, as SOMEONE HAD TO LOSE MONEY TO SELL AT THAT LOW PRICE.
Your posts clearly shows that you know absolute jack shit about economics so you talking about the economy would mean as much a turd coming out of your mouth.
Guerilla is right, I'm wasting my time. Fuck this.
I was not arguing from a view of economics. I was simply pointing out that it was not all bad. As you conceded. So take your palm off your face - you clearly have nothing to add other than that you have not read my posts.
Yes, someone lost money, did you read my post earlier addressing LukeP? I was simply asking, isn't the loss made up with the extraordinary gains from the bubble? Is this really a zero sum game? Are we not left with increased infrastructure etc as I have pointed out.
And screw you for telling me that a turd is coming from my mouth, really? What are you 12? Grow up. You may disagree with my posts, but they are not worthy of blatant disrespect. If you fail to understand the current state of this most recent bubble crash, then STFU - that's got to be the first time, or close to it, that I have ever said that to someone here. Wow, good job.
My position stands.
You stated it is better not to have the bubble in the first place. This is what we are told, but I was presenting a contrary view that you failed to address with anything other than implying you are smarter.
Just an interesting point about the housing crash:
1.
Median home price in the US $173,200. Median - half the homes in the US are priced under this amount - half!
2.
Payment with PITI - about $1060 (assumes $208/month prop taxes). That's principal, interest, taxes and insurance for the uninformed.
3. FHA loan 3.5% down is $6,000. You can offset this with many programs that make actual down payment close to what it costs for first and last month rent to get into a place.
4. Income needed for loan, under $2,500 gross ($30K/yr or $15/hr roughly). That's a husband and wife making the minimum wage or one earner making $15 an hour.
So tell me how this is not a great situation. The freaking minimum wage earners can buy a house, and not just any house, a house that is smack dab in the middle of all housing values - and FHA does not even require good credit!
How awesome is that? Fiber optics, sewer, city water, central heat and air, no lead paint, no asbestos, good streets - the whole 9 yards - available to those on minimum wage.
--- by the way - its even better for the rich. I can buy an existing mortgage for $0.30 on the current home value, foreclose, and own that same home for $52K. Wonderful housing crash isn't it?
