You don't need to be an economics professor to realize that if only 1 in 10 can afford a home the homes are overpriced.
I think most people really did intutitively understand this, and most did not buy into the bubble.
Unfortunately the relatively small number that did have created hugh problems for all of us.
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Posted by
J. Claton
on 03/25/2011 at 7:43 AM
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Re: “Long Way Down”
You don't need to be an economics professor to realize that if only 1 in 10 can afford a home the homes are overpriced. I think most people really did intutitively understand this, and most did not buy into the bubble. Unfortunately the relatively small number that did have created hugh problems for all of us.