Marketplace

How come when gasoline prices go down you guys cheer and when that happens to houses it's all gloom and doom. Ridiculosly cheep credit and greedy real estate & mortgage people drove the prices beyond the affordability of most Americans -especially here in California. I for one welcome this correction!

Welcoming a correction in the housing market to get even with greedy investors is like welcoming a disease going through a population of people. Once it starts there is no assurance you will not get it and be harmed yourself and it could turn into an epidemic rather than just a cold. Capitalism will suffer from ups and downs along with disappointments over how we treat each other. It might be best to show some understanding of the process and tolerance instead of cheering for the death of the bull. Bears have a nasty way of humbling all of us.

The real estate market had gotten way out of hand and I cheer that it is correcting..we all know that last year prices (in socal atleast) had reached such a point that most people could afford them if they took out a ridiculous loan or made a bad financial decision based on hype.. and there was no way for it go higher. I think people who took out reasonable loans and bought what they could afford will survive..people who suffer are those who made decisions based on a herd sentiment or out of ignorance/stupidity ...just like the bust of tech stocks in 200/01 while causing immense pain to lots of people has lead to healthier markets this is too will lead to a healthier real estate market for the long run.