Tuesday, July 29, 2008

That was then, this is now

What a great time to be a renter, when home prices--and hence values--are dropping at a record rate. I get a kick out of reflecting on Bush's constant speechifying a few years ago about how home ownership was increasing in America, a phenomenon, we now realize (and some of us did then) was the direct result of financing scams that have since collapsed.

And then there's this story. Says it all, doesn't it?

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