This is an excellent example of what happens when our government sets out to fix something.
In this case it's ticket cameras at red lights.
It's a great read.
Follow the money.
Sudden Disruption
Tuesday, June 20, 2006
Scameras - Our Government at Work
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Two thoughts: (1) It seems there has been a disconnection to the interest rate this time, where the
ReplyDeletespeculation overrode the cost in the market, and lenders seem to have found ways to ignore the fed interest rates, as well as any common sense in financing rules.
They say CA, in the last couple years, has been over half negative amort with balloon payments looming... requiring incomes to rise substantially to keep the market afloat in a few years from now.
(2) This may not relate completely... but there are strong beliefs that the market (not just housing) is heading into a rampage unseen since the late 20's... in fact similar... with very large gains from infrastructure investments and focus, here... and even greater abroad in
emerging countries like China, etc.
I fully agree with your logic. I would say, tho, that
markets are truly the reflections of beliefs... not bound by logic, as I mentioned above.
Sooooo, if the world doesn't agree with you, it may make you incorrect... but not wrong. And, ...
it's just not logical!
Oops,
ReplyDeleteThat last comment was for the post below on The Housing Bubble.