You just know a bunch of would-be players watched this over and over and thought by committing mortgage fraud and flipping homes they could be Bud Fox

And now, penniless and with no more access to credit, they're going back to being bartenders, car salesmen and call center jockeys, and hoping the government never does get around to prosecuting mortgage fraud and tax evasion.

And they wait for the next bubble, so they can do it again...

Homes will be cheaper a year from now than they are today in nearly all markets worldwide

Is that statement True or False?

HousingPANIC Stupid Question of the Day

Without cheap, easy, abundant and fresh credit, what will become of the American consumer? What will become of the American economy (70% of which is consumer spending)? What will become of our self-image?

Because you know we don't earn enough to actually PAY for all of this stuff...