Well, you're welcome. Get your head out of your ass and wake up... lest you succumb. I DARE you to read some world financial history, then come back and tell me I'm wrong!!
Don't get too hung up on JUST the mortgage rate side of the equation. T-bill rates are equally important. Why? Because sellers want utility after they bail and cash buyers also need alternatives to keep them sidelined. For example we both know that a guy spending a mil has a tougher time borrowing than a year ago. However the CASH BUYER sees a million as nothing more than a less than life changing 17k a year in Treasury interest. IOW's a million has little value as far as riskless return.
I've already read a good amount on 'world financial history'.... thanks. Now I dare you to buy T. You can buy me lunch in November as a thank you.
BINGO...Credit exhaustion.. The American Dollar and the US Long bonds are the biggest bubbles in history... THe world will soon wake up to this con and will stop financing our consumption...
You apparently don't "get it"... it doesn't matter how much you buy, own, have or "make".. the Gummint intends to screw you out of EVERYTHING YOU HAVE... ALL OF YOUR MONEY WILL BECOME EFFECTIVELY WORTHLESS... through taxation, inflation, currency debasement. It's a RACE to see if your paper money assets will survive through your lifetime. Boomers have a 50-50 chance. The next 2 generations are (1) F*CKED, and (2) DOUBLE F*CKED!
Last night I had dinner with a very successful LA restauranteur.. He's a European guy, but has been here for more than 30 years... You should have heard him spouting off Fox News sound bites like he was fucking Sean Hannity... and I quote: "Obama is a Muslim" "The economy is fine - it's all in your head" "You should be buying real estate now" "I went long Citi at 13 and sold at 17. The banking system is all good" "Oil is up because we don't drill enough".. Just nonsense...