I want to buy a house.
http://www.oftwominds.com/...
Want a Truly Healthy Housing Market? Here Are the Five Essential Steps (October 28, 2011)
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Right now, the housing market is so constipated with bad debt, politically untouchable banks, Central State manipulation and the corrupting grip of speculative financialization, that no buyer can be assured that he/she will be able to sell their home in the future.
This leads to a very rational hesitation: in a weak, fractured and increasingly volatile labor market, it is risky to commit oneself to buying a house that could rapidly decrease in value and cannot be sold.
Talk about a bad deal: not only is one's capital trapped, you're physically trapped in an asset which could fall dramatically in value if the constipated market ever clears. No wonder the housing market has been reduced to ill-informed foreign investors ("I can offer you this bridge in Brooklyn for very cheap, cash only"), people with a mere $100 skin in the game (Got A Hundred Bucks? Buy A Home (Or Virtually Anything Else) Using 2,000x Non Recourse Leverage Zero Hedge) or those funded by other government giveaways and subsidies.
In view of this very cogent analysis, one has to be off their rocker to buy a house today.
The folks defending the bailouts of the Wall Street banks and all the rest of the reckless money printing by the US government keep throwing out the spectre of a deflationary spiral. The bailouts of Fannie and Freddie and AIG, the reckless Federal Reserve with their quantitative easing and purchases of worthless mortgage securities with taxpayer money and a twist and all the rest of the money printing are defended even by folks here on Dailykos that call themselves progressive.
The Social Security trust fund has 2.6 trillion dollars in it. These inflationary policies seriously erode the value of this trust fund and thereby hurt those that depend or will depend on Social Security.
Our inflationary monetary policy not only hurts folks that wish to buy a house but poorer folks on fixed incomes, and the average Joe who loses the buying power of his wages.
Our government's policy is surely not liberal or progressive.