Chart shows why the real estate market will likely never recover
As I have always pointed out, the real estate craze was combination of insanely and unjustly low interest rates meaning Alan Greenspan and Co. and huge salaries. The prosperity was also created by Microsoft, Oracle, Sun Microsystems and others moving to new software products and hardware platforms, Year 2000 bug, Internet boom, stock market and newbies who wanted to get rich, which quite a few did. But just click on this chart for home values history created by Robert Shiller, Professor of Economics at Yale University , and you see quite a self explanatory picture. And a not a pretty one, for those who bought on the top and those accustomed fat and frequent commissions.
Sat Apr 12, 2008 04:04PM | Copyright: www.bad-credit-advisor.com | More in Economy | Comments (0)
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