I am interested to see how the lefties react to what this article posits.

The only people that I know who have lost their house or are in serious trouble are die hard conservatives that tried to live beyond their means.

They thought they were part of the Rich Crowd and tried to live as such.

Reality came crashing down on them and now we are all helping to pay the price of their misguided and greedy ways of life that comes with calling yourself a Republican.

Sowell works for the Hoover Institute as a thinkologist. And not the one that makes vacuums. The one that thinks Herbert Hoover was an economic genius.

'Nuff said.

I owned my house for 3 years, put in some renovation work, and just sold it for a 5% profit last month. Of course, interest rates were really low then, but it just shows this author doesn't really know what he is talking about.

#3 | Posted by northguy3

Like the left denies the two UCLA economists and others who point out how FDR prolonged the depression.

Don't think the huff nor kos will be carrying that one...eh?

"this author doesn't really know what he is talking about."

Myth #1: The Housing Boom was Nationwide.

#1 | Posted by JeffJ

Oh for pete sakes JJ you know already.

Boy...you just wait til Danni and MW get wind of this!

Derivatives are what caused our economy to hit rock bottom not housing. There will always be someone who will buy the house for sale at the end of the block as long as credit/loans are available. No loans were available due to the ponzi derivative scheme (the monetizing of debt). The lack of credit is what caused the meltdown. Housing was merely one leg of the chair that fell due to Mortgage Backed CDO Securities. It seems the republicans are trying to get people to forget that fact...

TAXMAN - Do recognize that housing, like unemployment may really suck in some areas of the US while in other areas still be doing well. Not all housing markets have tanked drastically.

"Lefties"?

What about all the others who pay attention?

Nuff said.

#3 | Posted by northguy3 at 2009-06-11 11:53 AM | Reply

Easier than reading. Too many big words! some of them have THREE syllables!