Media Confuses Bad News With Good
The Puget Sound Business Journal notes that homes are becoming more expensive again:
The good news in King County is that the average home sale price increased to $484,494 in December from November’s average sale of $440,062
How is this good news? When unemployment is rising, wages are frozen or falling and the state is running a mutli-billion dollar deficit this means a person must slave away more hours at work in order to repay his home.
I am reading a (fictional) book set during the middle ages. A home was built on 10 days labor. Wouldn’t that be great? Now homes are so unaffordable many lack means to repay, even when given 30 years! I fail to find the present situation desirable.
January 7th, 2009 at 11:45
You know why they think it’s a good thing. They want us to believe it’s a good thing so that we’ll smile and buy more pepsi.
While it’s absolutely ridiculous that houses cost as much as they do (I maintain that the housing market in most areas is still greatly inflated), clearly they’re not too expensive because people keep agreeing to pay outrages prices for them. Either that or there are no adequate substitutes…
January 7th, 2009 at 17:16
I assume you mean US Pepsi. Can’t have ‘Mericans consuming the stuff from Mexico, what with it having REAL sugar and all!
http://www.lewrockwell.com/blog/lewrw/archives/024734.html