Posted by
On the Right on Friday, May 30, 2008 11:35:59 PM
Here is how our baby-boom generation solves problems: Recently,
George Bush went to Saudi Arabia to ask the ruling House of Saud to
pump more oil.
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For the past five years, we fretted over a "housing boom" that had
priced an entire generation out of the market. In response, government
and lending agencies got "creative" by relaxing standards to allow
shaky "first-time" buyers into the red-hot market of high-priced homes.
Home-improvement TV shows proliferated on how to "flip" houses and buy
"no-down-payment" properties.
When the bubble inevitably burst, cries of outrage followed about
how "they" (never "we") caused a "depression" in housing. Our leaders
shrieked about greedy lenders and incompetent regulators who foreclosed
on us — never that the American people themselves caused much of the
speculation problem, or that housing prices are finally becoming
affordable again for new couples.