Dude...you're awesome! The Jewish economic policies of easy money, usury, and fiat currency spell DOOM for America. The Jews have destroyed another self sufficient western nation. They did the same thing in the pre-WWII Weimar Republic. Only this time around, they used our OWN greed and stupidity to do us in.

Yeah, keep telling yourself that. Australia is looking for people with degrees in engineering and their economy is booming. Can you say; "G'day mate"?

fueled by greedsuffer the consequence

I think its pretty easy. People's incomes now can't pay the monthly mortgage cause now its service industry. Why do they want to keep prices high on houses people can't afford to buy. I guess its so the neighbors houses won't depreciate as fast. What I'm saying is everybody is going to be living in multi million dollar houses soon but a loaf of bread will also cost $10. Basically I think we are going the way of the peso so our money will then be equivalent to the rest of South America. So sad.

The Jewish bankers who caused this need to be held accountable:Lloyd Blankfein: Chairman & CEO (Goldman Sachs)Martin Feldstein: Director (AIG)Alan Fishman: CEO (WaMu)Richard S. Fuld, Jr CEO (Lehman)Stephen Roach: Managing Director & Economist (Morgan Stanley)James E. Cayne: Former CEO (Bear Stearns)Alan Schwartz: CEO (Bear Stearns)Alan Greenspan Former Chairman, Federal ReserveBen Bernanke Chairman, Federal Reserve

I predicted this some time agoGooglehome ownership & rational regulation& follow the America Debates forum link

In a world financial collapse, where are you going to go?

the economy will crash and never recover. Best deal is to escape to another country

The builders won big time in California for the last 8 years and so did the real estate people, as did the State.They already made their money, and were delivering for the most part defective housing, using cheap labor - mexicans.I saw the crews working on there house. One white guy to 5 latinos.I doubt they were paying the latinos the same wages as the white guy.Besides the latinos for the most part are very hard and reliable workers.This is coming from a white guy.

Not true. The builders have been winning in California the most, since the housing boom, which began in about 2001.If they bought their land cheap as they were building the prices were going up.Once when I was pricing the price went up $11K in a week. So they made out. Yes, they are losing now.That is the chance they take.They were also buiding home to sub standards and using inexperienced labor, which added to the problem or defects.Keep in mind as these prices went up, labor costs did not

the builders dont win.

I'm in the building trade. We have been fabercating homes for about $70,000 that are sold for about $225,000 in S.E. Michigan. In essence, with finacing, the home is sold for $600,000/30 years. What has wallstreet been doing with all the profits? At a monthly payment of $2,000 the home mentioned is paid for in 35 MONTHS (2 years 11 months). the rest is intrest, finance charge, closing costs,,,,,,,Ron Paul '08!!!!!!!

Don't be an idiot, rich people on wall street caused this. They were given trust through deregulation and they abused that trust. You paid the rich people for the bailout so now you pay your mortgage twice, perhaps 3 times.Enjoy your homelessness!

Of course the builders made a killing, as did California from the excessive property taxes collected.I left california 3 years ago, knowing this would happen.I just didn't know it would be thias bad.$300K is stilll too much for a home, especially with wages so low.I'll move back to california when houses are at about $50K.

suckers....

Barney Frank and Clinton caused this housing disaster with deregulation. Liberal idea's don't work. NO OBAMA = NO MORE MESSES

Fools being departed with their money. Nothing better! Bankrupt the stupid.

Hopefully many of these consumers bought a house they play on living in as a long term investment. As a reponse to lennyfest, I will probably buy this year. After living in crowded NYC for 7 years and LA for 2, I can't wait. I've saved cash, been patient, and look forward to getting in while the interest rates are good and selection is awesome. Our company has bought around 30 REOs this year in the Southern California area to rehab and sell. Going very well.

hate all you politicians for keeping me trapped in hardship and making my dearest dreams and hopes unreachable by keeping rents and home prices too high for the slave wages you offer! screw you all! screw your war machine! I hope you misery makers sink into the ocean and get hurricaned shitless

Hmm...did they stop to consider whether they could actually afford a $600K house? Of course not--they only saw an upside, and now that their "inheritance" is gone, they bawl out their eyes to the media. Tough, that's how you learn financial responsibility. No bailout for these babies!