The Even Bigger Picture
Sep. 26th, 2008 12:33 pmEek! Big financial companies going bankrupt! Stupid Keynesian president involving tax dollars! Idiocy abounding, and dragging the rest of us down with it! Aaaaaah!
Wanna know the stupidest thing?
This was wholly predictable. The notion that "housing prices always go up" is based on the faulty notion that demographically, we always move toward more housing.
But we don't. Everyone knows that we don't. Everyone knows that as people retire, or as kids grow up and move out, people move their housing downward.
So what happens when the Baby Boomers start to do this?
Final Jeopardy music
That's right. Whatever sector they leave in droves or move to in droves is affected across the board.
Now granted, there have been speculators moving into and out of market niches like mad for the last fifteen years. Make it twenty, if you want to count the end-of-the-Eighties market reconfiguration.
I'm having a hard time believing the magnitude of the blindness.
Wanna know the stupidest thing?
This was wholly predictable. The notion that "housing prices always go up" is based on the faulty notion that demographically, we always move toward more housing.
But we don't. Everyone knows that we don't. Everyone knows that as people retire, or as kids grow up and move out, people move their housing downward.
So what happens when the Baby Boomers start to do this?
Final Jeopardy music
That's right. Whatever sector they leave in droves or move to in droves is affected across the board.
Now granted, there have been speculators moving into and out of market niches like mad for the last fifteen years. Make it twenty, if you want to count the end-of-the-Eighties market reconfiguration.
I'm having a hard time believing the magnitude of the blindness.