Yes but inflation was higher, the asset bubble gets blown up as everyone jumps in not wanting to be left out, but it’s musical chairs with one chair at the end. My brother in law bought rentals in a vacation area near the peak, he had no idea and got killed( I knew by late 2005 housing was over) . That sort of cycle, same as 1920s is not healthy."
True like a dog chasing its tail The problem is we were not productive as a producer of goods and generating positive cash flow for our country We were using the same monetary resources over end over until it ran out NOW what?
We built houses at prices no one could afford on borrowed money. Now many houses are empty. Where did the money go? Labor, illegals building houses, real estate agents, mortage and stock brokers,....all the jobs in the boom economy, but they spent the money and borrowed more. So we have empty houses and debt, so lets borrow more. I guess dems figure their federal project boom cant bust, but the bond market funding it can,then what? No one in press asking that but republicans have picked up on my idea to ask about it.