Foreclosure Cycles
Are the politics and economics of 2008-2009 a flashback to 1980-1981?
I was but a wee tyke back then, but I’ve read about that era. Unemployment was on the rise, inflation was horrible (double digit), the company was in a big recession and a change in political power was at hand. Only the details are different…high energy costs vs. home foreclosures. High inflation vs. the credit crunch. But wasn’t that just an economic cycle like it is now? Back then, it was the Democratic President (Carter) who was voted out in favor of a Republican. This time it is the other way around.
There was so much wrong with the Carter Administration that we could discuss it for days.
But, what the major problem is today is the entitlement mentality that many Americans live by.
Debit to income ratio is at an all time high (over 130 %) and many live off credit and buy things they can not afford because they think they are entitled to it.
Until people start to display some personal responsibility and stop the envy of what others have worked hard for decades to achieve, our economy will continue to fail.
Do not look to the government to support your every need and we will again prosper!
The Denver Area Real Estate Cycles: Years 2008 – 2010 & 5 Year Forecast (part 1 of 5)
