A long time ago, I wrote an article called “The Conspiracy of Home Loanership.” In this article I explained that the house you live in should be looked at as a material item as opposed to an “investment.” I explained that the equity in a home is nothing more than a credit card that allows you to go into debt… again! I also connected the “buy a house and build wealth” propaganda to banks getting over on consumers and ultimately the elite class stealing wealth from the masses.
I wrote that article in 2007. I received pushback from a lot of different people for various reasons. But since then, a lot of people’s investments have gone bad. Foreclosures and delinquencies raged. And the securities backed by these mortgages took a dive and financial institutions collapsed. And one of the major groups of people who got screwed were the consumers who bought houses that they could now barely afford and had to re-borrow on. This was all to create wealth.
But, fret not! I’m hearing that the real estate market is rebounding. The housing market is recovering. And for those who were skeptical about buying, it’s now time to reconsider. My response is very simple. You mean, like back in 07? Check out this hilarious flashback from experts about the coming boom. And of course, the one conspiracy theorist (who had to be laughed at)!
Originally posted 2015-03-17 00:52:01.