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House Price Crash Forum


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About william1066

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    HPC Newbie
  1. Hello, Newbie here. I went to the beginning of the thread first. What a blast from the past. My mother put her property on the market in 2006, but after a series of lousy agents and people starting to feel jittery, she held onto it. It was a Spanish-style ranch house on 2 and a half acres in the mountains West of Palm Springs, California. At the peak of the market, it was valued at $530k. In 2009, it was sold in a short sale for $260k. Now my brother-in-law is losing his house near Temecula. He lost half his clients because of the economy, and he couldn't restrain my sister from spending.
  2. Paul Krugman is right. Austerity in a down-turn is counter-productive. The best way to reduce national debt is to grow the economy out of it. Arguments to the contrary are either based upon blind dogma, ignorance, misplaced morality, or any combination thereof. Go down the road of "austerity", but mark his words.
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