Mike Adams, the Health Ranger See article keywords and concepts | With enough media coverage and advertising, the public can be convinced to hallucinate practically anything: Saddam Hussein was responsible for the 9-11 terrorist attacks. housing prices will keep going up forever. The U.S. economy is strong. Imperialism is freedom. And most of the population suffers from a variety of mental disorders that must be treated with psychotropic drugs. These are all consensus hallucinations. There are many more, in case you're curious. | Mike Adams, the Health Ranger See article keywords and concepts | Consumers think their homes are giant ATMs they can live in, and they mistakenly believe that housing prices will continue to rise forever. So with each passing year, as the housing bubble gets larger, consumers are extracting the virtual gains from their homes and using that money to buy stuff they don't need and can't really afford.
When the housing market corrects, and prices return to rational levels (which is inevitable, by the way), all this consumer spending of fictional home equity is going to look pretty darned ignorant in retrospect. | Mike Adams, the Health Ranger See article keywords and concepts | Once the housing prices collapse in one region, it can spread to another region.
That's what's going to happen in the near future. This bubble market cannot stay propped up for very long. Now it may be three months from now or it may be three years, or even five years, before this happens. I can't say for sure. I can tell you, it's coming. I see a major correction in store for this trend. So what are the warning signs? Why am I so sure this is happening? There are a lot of signs. | | We will find out what happens to housing prices in the years ahead. We'll come back and revisit this, and we'll disassemble the popping of the bubble after it happens. It will be interesting to see if anybody gets away unscathed in this big scam. The best way for you to escape unscathed is to make sure you are not over-leveraged. Have some equity in your home. If you can pay extra to pay down your mortgage, you should do it now, and don't go out and buy an overpriced home just for speculation.
Don't compromise the roof over your head. | James Howard Kunstler See book keywords and concepts | In fact, re-fi lending tapered off smartly by late 2004. housing prices will probably remain inflated for a period of time beyond the end of the re-fi spree because of the end-cycle hangover phenomenon, the persistence of delusional thinking on the part of wishful sellers who refuse to believe that the boom is over and they might have missed out. | Joseph Glenmullen, M.D. See book keywords and concepts | During the conversation, she had discovered how much higher housing prices are in Washington, especially in Georgetown, than in Boston. In therapy, she blurted out in shock, "I'll have to commute two hours in and out of the city to find a house we can afford." Since the phone call, Lydia had convinced herself that she would not be able to buy a house in a town with good schools, that Eric would not find a job he liked, that the move to Washington would be a disaster, and that she should never have uprooted her life this way. | | Housing prices are astronomical in the few good neighborhoods. feeling: Helpless. Confused. Frustrated. dialogue: We can't afford a house inside the District. I'll be exhausted commuting back and forth to work. Any town where we can afford to buy will not have good schools. The boys are the ones who are really going to suffer. Eric won't be able to get a good job. It's all my fault because I wanted to move. cognitive distortion: All-or-none thinking. Catastrophizing. restructured dialogue: We'll be okay. We'll find a smaller house with less land closer to the city. |
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ABOUT THE CREATOR OF NATURALPEDIA: Mike Adams, the creator of this NaturalNews Naturalpedia, is the editor of NaturalNews.com, the internet's top natural health news site, creator of the Honest Food Guide (www.HonestFoodGuide.org), a free downloadable consumer food guide based on natural health principles, author of Grocery Warning, The 7 Laws of Nutrition, Natural Health Solutions, and many other books available at www.TruthPublishing.com, creator of the earth-friendly EcoLEDs company (www.EcoLEDs.com) that manufactures energy-efficient LED lighting products, founder of Arial Software (www.ArialSoftware.com), a permission e-mail technology company, creator of the CounterThink Cartoon series (www.NaturalNews.com/index-cartoons.html) and author of over 1,500 articles, interviews, special reports and reference guides available at www.NaturalNews.com. Adams' personal philosophy and health statistics are available at www.HealthRanger.org.
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