The time will come when we'll see that the home builders, the realtors, Freddie, Fannie, appraisers and mortgage lenders deserve our wrath much more than the oil companies.
But not until homeowners feel the pain of lost equity. Which is soooo much more substantial than a few pennies at the pump.
Consumers are fuming over outsized oil company profits. But by the same logic, shouldn't home-builders and real-estate brokers be on the hot seat for soaring prices?
Americans outraged over the price of gasoline and the sensational profits of oil companies of late should stop a moment and look inward. Not at their souls, but at their homes -- which have appreciated in value at least as much as gasoline, and in many cases much more.
November 27, 2005
Posted by blogger at 11/27/2005