All risk in America seems to go one way: the the taxpayer, unfortunately that’s not reflected in this cartoon:
On August 5, 2009, In Denial, By Chuck Ponzi
2 Responses to “One-way Risk”
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Real-Time Real Estate News
- The government bubble - Asia Times Online
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Fear and greed, the two things that move markets. Lots of blame to go around. Govt, Banks, Real Estate Agents, Buyers and Sellers to name a few. It’s too bad, responsible citizens ultimately have to pay the price..
We have yet to see the worst of this in Southern California. With the coming resets and recasts of Alt-A and Prime loans, the mid to high end markets will get hammered. For example Malibu, has already dropped 92% in sales volume over the last 4 years. In addition they have 4 years of current inventory listed. That’s not even counting any shadow inventory.
I’m afraid the Westside of LA is in for a world of hurt.
http://www.westsideremeltdown.blogspot.com
HI-larious! Where is the corporate responsibility? Now the responsible citizens pay the price.