Goody, Goody, Goody. A couple of more months, maybe my wife gets the raise she's going for, I'll be able to afford a Palace on The Potomac. Something near Mt. Vernon where all the trees have turned beautiful colors this time of year....
No, but at least a two bedroom house made out of cheap plywood and stucco in a so-so neighborhood won't cost you $600,000.
Wildly inflated prices based upon people paying far more than they should because banks were irresponsibly lending out huge sums of money under extremely risky terms is not good anybody.
That is just a recipe for a future wave of foreclosures and another Savings and Loan bailout by the American taxpayer.
This was not so much a "housing bubble" as it was a "risky credit bubble".