Well, for you all that haven't been paying attention to the falling housing market, it seems Detroit has houses for sale that are cheaper than new cars. So, of course Congress is now rushing in with a new flurry of regulations and a rescue plan for stupid consumers.
This could have most certainly been avoided, by just learning some simple economics.
Also, for those of you keeping track of the sub-prime lending market, the Implode-O-Meter now is at 50 lenders out of bidness and still counting. Thanks Gary North for showing us the light(in February there were 14 bankruptcies). Nice.
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1 comment:
Thank god for the Gov'ment. If they don't fix it then those poor people would have to sell those houses for market price?
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