Monday, March 07, 2005

I Hear Ya

It isn't easy holding this conviction. Hey, I'm a homeowner and so is most everyone I come into contact with. No one likes to hear this. Woe is me I guess.

Fleckenstein has been beating the drum too. I love the last paragraph as it relates to the tired old line that they ain't making anymore of it:

"In case you're wondering what it might look like, there is a group of islands where there isn't enough real estate for everyone -- and where real-estate prices have declined for 10 years now. It's also home to the world's second-largest economy. It's called Japan."

My other favorite argument is all the immigrants. Hey, a lot of the Indian braintrust are heading back. If we keep up current fiscal policies a lot more groups will find other shores more attractive. Waves of immigrants. What bunk.


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