Frankly, the government should sell its mortgage assets to the Federal Reserve, who would then mark them to market and take the currency out of circulation. Until it does so, we will be in what will undoubtedly be termed a depression which will not lift until wage inflation (and many are seeing wage deflation currently in the private sector) makes top of the market homes salable with a bit left over to buy a bigger house.
Posted on: Wed, 26 Jun 2013 03:37:49 +0000
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