>>This whole discussions is of course moot, because in reality neither you
>>step-grandfather nor sustainable housing projects will get the cash, <...>
I also forgot to point out that my step-grandfather *did* get the cash. he paid less for a mortgage than he would have paid to rent. in turn, the house was paid off and he spent more than a decade *without* a mortgage to pay at all. my father and mother would have liked to have enjoyed the same and would have had they not split during the severe economic recession in the rustbelt during the 80s.
when my step grandfather died, he left the house to my grandmother who split the proceeds with his three children. she lived off the proceeds until a stroke wiped it out. it wasn't a whole lot, but it was more than the $25/month pension she got from working 20 yrs on a factory line making typewriters.
all that said, there were people in the market to make a buck. my landlord and several of my would be landlords when looking for a rental were people who purchased property to flip, but ended up having to rent to cover the mortgage.
>this crisis, like all economic crisis, will simply lead to a greater
>concentration of wealth. You can take that to the bank.
wow. really? i'm just shocked. i never knew. really? seriousLy. wow. i'm heading right down to wachovia right now and seeing if i can't deposit that in my money market.
http://cleandraws.com Wear Clean Draws ('coz there's 5 million ways to kill a CEO)