Then again, even my wife thinks me completely and utterly insane. So be it. I suppose I could squeeze my eyes shut and wish everything to be better, but the CPI is not in any form or fashion a realistic gauge of inflation anymore. Most people I know have been either downgraded in finances, or are treading water performing 2012 work for 2008 wages.
Well, except one, but she works for the government. She's had nine raises since 2008, for doing the same exact job she did in 2008. Yeah, this is going to work...
Oh, look, another city just filed bankruptcy.
Many folks are excited about the prospect of property because of the price plunge and low interest rates.
However, taking on debt to finance property is an extremely risky endeavor in my own opinion.
It's my belief that property will continue its decline on average, and that it still has a long ways to fall - while the eventual bottom and long drawn-out growth will take many years to unfold.
I say this because economic history shows we still have another six or seven years of deflation before major warfare breaks out and reintroduces moderate inflation (through many countries gearing up for their war efforts - with the international banks loaning them the money to do so).
When is a good time to buy property? When war is imminent.