does anyone still believes in renting?
Well, here comes the moment of truth. Bernanke just confirmed that prices cannot fall, because as soon as they try to fall, the renters will obediently pay more taxes to prop them up. Now, how does it feel to pay rent to your landlord and then to pay the principle on your landlord's mortgage? Will you ever find another fool in the coutry who still wants to rent and bail out and pay taxes on renting and bailing out and put his few remaining dollars into savings which become worthless faster than they accumulate? Tomorrow morning, even the last sceptic will run to the bank and ask for the largest loan he can get, any term, any fees, any conditions, and that still will not get him anywhere because realtors will no doubt replace the stickers today in the evening.