HowardReal Estate Market Keeps on Going Down
August 24th 2008 13:35
Real Crash- Looking at Capitalism and its Laws:
Yes, the real estate market, the house prices keeps going down, because there is a credit crunch. Lots of people who cannot put 20-percent down cannot buy anything. Though the Fed Discount rate is 2-percent, mortgage rates, for mortgages, if you can get them, are still over 6-percent. The Ben B. Jackson Hole Wyoming Financier's Bash did not solve a bloody thing.
Ben Bernanke's loose bowels are not doing anyone any good. Huge amounts of loans are being made to keep the big banks and investment houses afloat, that will never ever be repaid.
The basic idea at Jackson Hole is that economic collapse fosters stability. The speculative price of oil etc. won't go up from their present ridiculously high levels, because of "slack in resource utilitization." That is, unemployed and enslaved people use less energy.
Only in New York City, 2-bedroom apartments in Manhattan still generally go for $4,000-a-month. Still, like wow.
Ben Bernanke's loose bowels are not doing anyone any good. Huge amounts of loans are being made to keep the big banks and investment houses afloat, that will never ever be repaid.
The basic idea at Jackson Hole is that economic collapse fosters stability. The speculative price of oil etc. won't go up from their present ridiculously high levels, because of "slack in resource utilitization." That is, unemployed and enslaved people use less energy.
Only in New York City, 2-bedroom apartments in Manhattan still generally go for $4,000-a-month. Still, like wow.
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