Is it Time to Buy a Home?
Maybe you have saved some money and you think the home prices are down, housing bubble has burst so you want to buy a home. If you can buy cash down, it is OK. But current prices are based on inflated credit. They are likely to go lower in the coming years. Wait for the bottom of deflation. It is coming. Current prices are too high. Glenn Beck explains the housing bubble we are trying to sustain:
http://www.kondratieffwavecycle.com/housing-bubble-bust/
They sell it to the public as "American Dream". They said homeowners are better citizens. They allowed sub-prime, no 20% down, liar loans (good citizen???), 8K home buyer credit, mortgage interest deduction from income... All are for one purpose: To inflate the money supply. Because when we borrow, banks create money out of thin air and give it to us:
http://www.kondratieffwavecycle.com/credit-inflation/
And when borrowing stops, deflation starts! Why would borrowing stop? When total debt (which is now 350% of GDP) reaches a level where the economy cannot pay total interest, borrowing stops. M3 is deflating now. This will be the biggest economic crash ever! Great Depression is going to be small matter compared to what is coming:
http://www.kondratieffwavecycle.com/economy/day-of-reckoning-deflationary-depression-is-near/
