From: Don Bowen KI6DIU <don.bowen AT earthlink.net>
To: homestead AT lists.ibiblio.org
Subject: Re: [Homestead] Morning musing
Date: Thu, 20 Sep 2007 15:38:40 -0700
At 9/20/2007, you wrote:
By the bye, we will see of course, but the same doomsayers who accurately
predicted the housing bubble have also predicted that it will be ten years or
longer before the situation reverses itself.
The housing situation will not right itself until either house prices drop
to match wages or wages rise to match house prices. Since almost all wage
gains over the last 7 years have gone to the already wealthy, don't expect
any immediate correction.