The Crisis of the Stock Market today was caused, according to the analysts, by the failure of the legislative fix funding the bailout of certain banks by purchasing worthless or mostly worthless securities that had been inappropriately marketed to unsuspecting investors and consisted mostly of very complicated hot air.
On a more concrete level---the fix will be when my children are able to purchase a fairly valued home, at fairly attainable down payment terms, in a loan application that sees their employment at fairly priced wages.
Until all that happens---no matter what the mumbo jumbo of the pundits---there will be no fix. After all it is only the children of the baby boomers who could buy their homes---who else would it be?
The small rambler homes that sold for $10,500 in 1950 and are now priced for $225,000---what should these homes be priced at in order for any young wage earner making $9.00 an hour in order to purchase it? The higher the wages....the higher the price would be.
It truly is the golden rule at work. As soon as those compassionate seller agents begin to be very concerned about the wages of the buyers,,,then there may be progress. And as soon as everyone is concerned with developing jobs that pay living wages, then the sooner the homes they have invested a lifetime in, will be able to be sold.
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