Dean asks;
"Those who didn't buy in 2002: could anyone knowledgeable/clued in enough to understand that prices were crazy then, have guessed how much more insane they would get, without being an insider? As to the folks over at patrick's and their entitlement feelings: are you saying a well educated American is asking too much when he/she imagines that a home with income at multiples of the national average *ought* to be able to afford a home?"
Nobody predicted 2000-2005. We know why now and many of us have that mountain of data as a reasonable indication of what will happen 2006-2010. Indeed the Gen Xers did the right thing and got punished for it. The houses they had worked for were stolen by undeserving people too stupid to realise what they were doing. There were market forces that worked against them as well such as the uncomfortable fact that their parents and grandparents just wouldn't die like they used to. Not only were they selfishly hanging onto the mortal coil they were hanging onto their homes as well.
As we've seen the entitlement problem is an emotional one. I don't know how to examine it without a lot of misunderstanding. They surely should be able to afford a home, thay appear to be more deserving, smarter, etc. I just don't know how to enfoce fairness. Everytime I'm aware of an effort has backfired miserably. It doen't help that I re-read Vonnegut's "Harrison Bergeron" last night. [I'm a voracious Si-Fi reader.] Fodder for another day another post.
1 comment:
The truly deserving ones will be those who have the nerve to hold out, don't cry about their lot in life, and buy when they can afford to. In the words of the Governator, "Stop whining!"
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