“You could write a book just on how poor the coverage has been of the alleged housing bubble. The media have been foretelling a massive bust in housing prices for months now… That kind of ignorance makes homeowners fear that their most expensive possession could turn worthless overnight… That won’t happen.” - Herman Cain August 17, 2005
vs what Ron Paul said would happen
…these special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions… like all artificially created bubbles, the boom in housing prices cannot last forever, when housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore the holders of the mortgage debt will also have a loss. These losses will be greater that they would have otherwise been had the government policy not actively encouraged over-investment in housing. – Ron Paul August 10, 2003
Once again Ron Paul shows that he understand economics beyond any of the candidates running and despite this the media is still ignoring him. Folks you have a chance to vote for someone who is actually predicting issues prior to them happening just like Ross Perot did with NAFTA.
