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Vast Stretches Of America Have Now Descended Into A State Of Deep Economic Hopelessness! - Epic Economist

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I saw this coming thirty years ago when corporate America started getting themselves out of union contracts with their employers. At that time I said who is going to buy their products when the average family has no surplus income? Well it has now come to rest.

It may be a gift in disguise that potential homeowners are being priced out right now. The housing market will crash. Prices will come down, how far we don’t know. But it is a fool’s mission to buy real estate at the top of the market. Assuming prices will go higher, is a shot in the dark, when all indications are that we are on a precipice economically. There is nothing wrong with selling if you already have a home and want to get the best price, and renting for a year to wait for prices to cool. Being priced out of a lot of things is not the worst thing in the world, although we act like it. The fact is that many don’t care that they are in debt, and want what they want RIGHT NOW, regardless of the cost. Trying to appeal to their sense of profit to wait for awhile flies too high for them to see. We are being priced out of a lot of things, but this makes us appreciate what we have, and what we finally get. Eating a steak one time every two or three months makes us grateful for the privilege. Eating it twice a week makes us take it for granted. This goes for everything. It seems there are no “treats” any more. Everything is expected. Industry did a number on us.

 

 



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