Reply #2: Stupidest statement yet. [View All]

[mbperrin]

"If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years," said David Lereah, chief economist of the National Association of Realtors and author of "Are You Missing the Real Estate Boom?" "It's as if you had 500,000 dollar bills stuffed in your mattress."


Check out another angle:

"If you haven't been selling heroin, it means you probably did not manage your funds efficiently over the years," said David Lereah, chief economist of the National Association of Drug Dealers and author of "Are You Missing the Drug Boom?" "It's as if you had 500,000 dollar bills stuffed in your mattress."

Makes just as much sense.

Debt discounts the value of labor going forward. Tremendous amounts of debt reduces the value of labor tremendously, and that is where it will come out.

Spell Depression? Thought you could.

Obviously the real estate market needs a little hype so the big guys can cash out even higher!