Awesome clip. Glenn Beck rocks.

Huge dips in the market, such as the current one, don't affect real estate investments you own unless you need to sell during the dip.

Here in California, the population is expected to double by 2050, adding mostly to existing population centers, so real estate is still a good low-risk, long-term investment.

^ Isn't CA one one the worst hit by foreclosures? This chart shows very high increases... though not as bad as Las Vegas/Phoenix - http://www.nytimes.com/interactive/2008/06/24/business/20080624_HOUSING_GRAPHIC.html

If prices are down now, doesn't that make it a decent time to buy? In my opinion you should buy a house to live in, i.e. a long term investment. Not a 3 month turn for profit. Shit like that drives up home prices and of course there will always be morons willing to pay anything. And when housing prices go up, less and less people can afford them since wages dont stay on par with cost of living

This is a bit of a one-sided PoV, but there's got to be some kind of balance that can get (and keep) people in homes and let various businesses/industries thrive. Or maybe not. People do get awful greedy.

Sunny Yunny? HA.

>> ^littledragon_79:
This is a bit of a one-sided PoV, but there's got to be some kind of balance that can get (and keep) people in homes and let various businesses/industries thrive. Or maybe not. People do get awful greedy.


That's not one-sided at all. That's how it's supposed to work.

Somewhere along the line, we started letting banks sell their loans to bigger banks. The bank that sold the loan made a quick profit, and the bank that bought the loan bumped up the monthly payments on the mortgage.

People bought homes expecting $500 to $1500 monthly payments, and in less than two years they were paying $2000 to $6000 due to the fucked up way that banks were allowed to mess with the interest rates.

Everybody keeps trying to blame all of this on people who were living beyond their means, but that's not what happened.

Our government gave banks permission to be loan sharks. That's what happened.

I hate to admit this... but I really like Glen Beck.