Tuesday, August 1, 2006

Housing Bubble Now Popping - U.S. Economy Doomed

Sometimes the business of life and pre-occupation with our work and family hides a terrifying truth that lies before us. The slow, certain detioration of accumulated, perhaps speculated, wealth.

If you're a home realtor or a mortgage banker these days, now's the time to take that 6 month vacation and perhaps leave the country. In a about 3 to 6 months, a large part of your rolodex of 6 digit home buyers is going to want to off you.

If you're renting and thinking about buying a home today, don't. It's probably the worst financial decision you could possibly ever make at this moment in time.

And if you're already a homeowner and have overextended yourself financially, now would be a good time to cut back on discretionary expenditures and to seek professional financial, and perhaps legal assistance to weather the upcoming shit storm that will take all of your money. The next great American housing crash and biggest economic recession since 2001 is upon us.

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