real estate questions....

Carl_William · #1 05-23-2005, 04:19 PM

I agree with essentially everything you in your post except:

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It's basically a gigantic Ponzi scheme.

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"gigantic" is an excellent adjective; but "Ponzi scheme," connotes criminal intent. "Giantic musical chair game" or "greater fool" would be a better way to describe the game.

People running Ponzi-schemes" have can go to jail, but the real estate market bubbles are just greater fool games.

laserboy · #2 05-23-2005, 05:07 PM

If I were in charge, sending home refinancing spam would be a crime punishable by death. [img]/images/graemlins/grin.gif[/img]

But you are correct. The people most responsible for the real estate bubble will walk away with millions laughing their way to the bank. Fannie Mae's CEO for instance. It was a great scam while it lasted.