The housing market turns on you?
Interest rate hikes are coming in steady now -- what's this, 6 in a row?
The writing has been on the wall for a while now.
http://www.washingtonmonthly.com/fea...ace-wells.html
http://www.freerepublic.com/focus/f-news/1313194/posts
Even longer when you consider this quote...
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
-Thomas Jefferson
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The same guy that predicted and warned about the dot com bubble has been talking about the RE bubble for the past few years.
So what do you do?
Where is the "smart" money now? Gold? Probably way too late for that - they've been buying gold while everyone else was chasing paper mortgages. Just compare the housing market to a gold chart.
The average joe thinks it's no-brainer easy money to invest in real estate these days. Just buy a house... hell, buy the biggest house your lender tells you that you can possibly afford - why not? It's going to keep going up up UP right?
When this US real estate bubble pops, we're so fucked as a country.
