Posted on 09/17/2011 8:04:57 AM PDT by rabscuttle385
My point was there is way too much inventory. Houses were way over built in the last decade. That and the associated debt are the root cause of the housing mess. Government and banks are doing everything they can to keep prices up while there is way too much inventory which is in conflict with basic market principles. That unnatural state of things is where we are. Yes, housing is going to have to further correct - because of over supply. Until that oversupply is finally consumed the housing market won’t be “normal” again.
I’d argue that we became too wealthy...
What I mean by that is, we believed we could afford to pursue every little Utopian idea and our wealth would pay for it all with no real negative impact. Be it the endless environmental regulations to endless public employee pensions and employee rules.
Those people were wrong.
I meant that we should balance the budget.
If you are going to spend $4 trillion dollars, then you should pay $4 trillion in taxes.
You should not spend money on wars, entitlements, and everything else without paying for it.
Stop borrowing money!
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