01-31-2008, 04:31 AM
Glenn, next time you see your friend with too much money in the bank, suggest she look into buying some gold and silver bullion and then keep it somewhere other than a safety deposit box. That's the hard part! I've heard rumors of runs on some banks already although I think most of the runs were on British banks.
A lot of hope of keeping land values up is in folks coming over here and buying retirement places. However, what percentage of folks who have been saving up for a retirement place had their savings in some sort of fund with portions of it in "real estate backed securities"? When the finance folks are talking about writing off billions and now up to trillions of dollars, it has to come from somewhere!
Personally, I'd prefer land values to drop to the point where families can survive on one income again like they did several generations ago. Then families can have time to be families and not just strangers all living under one roof and struggling to pay the rent.
A lot of hope of keeping land values up is in folks coming over here and buying retirement places. However, what percentage of folks who have been saving up for a retirement place had their savings in some sort of fund with portions of it in "real estate backed securities"? When the finance folks are talking about writing off billions and now up to trillions of dollars, it has to come from somewhere!
Personally, I'd prefer land values to drop to the point where families can survive on one income again like they did several generations ago. Then families can have time to be families and not just strangers all living under one roof and struggling to pay the rent.
Kurt Wilson