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Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
What is going to happen here?
ReplyDeleteSomeone needs to pay for this-- either the people who took out the loans (doubtful since they probably can't), or the people holding the loans now (doubtful since they probably have political connections), or the savers through some sort of tax on savings and cash holdings (most likely).
It's like the guy at the bar, sitting waiting to get sober before driving home, says "I might as well have another beer while I wait".
ReplyDelete