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IPFS News Link • Housing

Our Awful Housing Recovery

•, Joe Weisenthal
 Great post up from Calculated Risk putting the US housing recovery into the context of past recoveries.

This is really the money chart, showing how slow the recovery in new home sales volume compares to every other recession.

1 Comments in Response to

Comment by PureTrust
Entered on:

Standard wisdom that has been around for thousands of years says, "Don't borrow!"

Things are different today. Because of the way banking is nowadays, you don't borrow when you attempt to borrow. Rather, you and the bank, together, created new money. Since nothing was borrowed, nothing needs to be repaid.

See, for example: