More Bullshit

New home sales soar according to CNN. The system is being gamed again with Obama's $8000 tax credit spurring first time buyers on the cusp (ie barely being able to afford their home). Again, this is the beginning of the exact same cycle that got us into the current economic crisis - getting people to buy homes they can't really afford, thereby artificially raising the home prices above the market, allowing all homeowners to take out loans (leverage) against their inflated home prices. This is a cycle that continues and continues and basically amounts to a pyramid scheme of borrowing money. When the market gets wise or the money runs out, suddenly the prices crash and people will owe more money than they have on paper.

Great.