Posted on 06/10/2014 12:53:20 PM PDT by PoloSec
Thanks to free and abundant credit to those at the front of the line, home prices have soared in the last few years as "smart" hedge fund managers have bought homes-to-rent in a yield-grab with both hands and feet. This - as we have noted numerous times - priced out the 'real' buyer; who this time, instead of being driven by a "fear of missing out", would rather not play (only to be left holding the bag). Another unintended consequence courtesy of The Fed's "main-street-helping" actions that has destroyed the American Dream for a declining middle class.
Fewer Americans think it's a good time to buy a home than at any time in the last 4 years... "recovery"!
The trickle-down is not working... the middle-class is tapped out (and releveraging just to get by)... and the Fed's key transmission mechanism to the masses (housing) has now been broken... let's hope the market doesn't drop ever again (or the economy).
This is not trickle down prosperity, it is trickle up poverty.
Time to think about secession.
Not to mention exacerbating “wealth inequality”
Bookmark
A good bit of what you read on Zerohedge is fabrication.
You can lay all of this at the feet of the Federal Reserve. Inflation, debt and money printing will always benefit those at the top.
Wait til the negative interest rates come here.
What trickle-down? There's nothing to trickle. This is an economic contraction we're experiencing.
A good time to buy minus a good time to sale? Means good time buy. The ‘08 real estate bubble bust still has something to do with this. Obama’s policies has something to do with this.
Project Mayhem
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