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Another Conservative Economist Goes Rogue

6
First As Tragedy, Then As Farce8/05/2011 5:14:02 pm PDT

re: #2 RoadWarrior

Foreclosure on the massive scale we’re looking at affects other people who, until half their neighbors fell into foreclosure, were doing fine. If you bought a house — well within your means — five years ago, and now it’s devalued to the point where you’re now upside-down on it through no fault of your own, well that’s your tough shit. Mourn for your equity and the good old days, and best of luck if you have to try to sell it for some reason.