People talk about how we’re years from a real estate recovery. I think this country has more potential energy than that, and if we could create a positive business climate, things could bounce back like a rubber band.
It would take government getting their dead hand out of the business world, which is a big if.
Real Estate prices have been in a huge bublle, for about 15 years. But you’re right, once things get cleared out and cleared up, the American Economy can bounce back. But it’s not practical to think that the debt sponsered way of life will continue. It won’t. Prices on all goods must either drop drastically, relative to work hours performed, or they will not be bought, plain and simple. Other citizens in other nations will soon no longer support the U.S. way of life (they have been subsidizing us as long as we have been running a deficit), and when that pull back comes, there will be a sever reduction in lifestyles, accross the board (Except the very rich, or elite, who will profit handsomely, as they will have the prior resources to do so, as always, throughout history).