Are we really in a housing crisis in America ?
Sunday, March 23rd, 2008According to all of the media in America, our great country is in a “housing crisis”.
Yes a crisis. Our world is going to end because the free market is adjusting. I guess our memories are so short that nobody remembers that the housing market goes in cycles. It goes up and then down and then up and then back down, etc.
After 2001, the USA had almost unprecedented growth in housing valuation. I know the housing prices in my neighborhood in Southern California went from the low $ 100,000’s to almost $ 400,000 in just 5 short years. That kind of value fluxuation has never happened before.
Now all of the sudden as housing prices cycle back down, as they have always done, our great country is now in a “housing crisis”. Well one man’s crisis is another man’s opportunity.
Just relax and let our free market capitalism run its course. That is why America is the greatest country in the history of human civilization.
Rawlin James