Skip to main content

View Diary: Bubbles Greenspan - good news on the housing front (74 comments)

Comment Preferences

  •  Rarely said but many *benefit* from less froth (none)
    Housing being less bubbly obviously has some financial losers such as: people who've bought homes who can't sell right away w/o losing money, people who work in selling or lending who have less (than the previously huge) profits or (worse than that) suffer job loss, and people who can't continue to afford their expensive mortgages for any number of reasons ... but there are also financial winners: most importantly, housing is less unaffordable to buy, so more renters can buy; people don't have to go into debt up to their eyeballs in order to buy; people have more money to use otherwise for non-housing purposes and to support other sectors of the economy or to save. So whether you're bearish or not, less housing froth has some winners. Also, even somewhat of downturn in prices (truly inevitable as interest rates rise) might only erase a couple years or skyrocketing gains in places like Calif or Fla.    

    Reality - Humanity - Sustainability

    by Em on Thu Jun 02, 2005 at 09:59:52 AM PDT

    [ Parent ]

    •  yeah (none)
      I have to admit that a bursting bubble would make Bushco look so bad it's tempting to wish it on him.  And I'd love to own a house.  But when I think of the pain and misery a real bubble burst would cause, I feel guilty.  

      Maybe just a little burst. I guess the concept of a  "little" burst is akin to being a "little" pregnant.

      YearlyKos Convention 2006. Register. We'll have snacks.

      by ksh01 on Thu Jun 02, 2005 at 10:58:22 AM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site