Idiot Economics

Amputee, doctor of poor faces losing his home



But his place has sat on the market for three months without an offer. Located in a tony neighborhood in Manhattan's Upper East Side, apartments used to sell in a matter of weeks. Caplan has dropped $50,000 from the original asking of $625,000 and may have to drop the price again.



So ... most of the population makes 30 thousand a year and you wanna sell a house for 6 HUNDRED thousand ? Thats like their ENTIRE income for 20 years ? And you're all teary eyed because it won't sell ?


In the case of Luis Caplan, Jaffee says, "What it means to him, if they did carry out this program, then the government would be stimulating the demand -- the buyers -- for his apartment to sell it at a fuller price and much sooner."


And some yammer head professer of real estate and finance says yeah yeah ! Booste the price ! Make them buy pay their entire life times income for a house ! yeah yeah ! Thats a good thing !


I can't believe an economist is saying that.

The drinking at the public trough in america continues , I see. Reason has not yet broken through. They're still in the give me give me give me mode.