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| Wednesday, January 10, 2007 |
| What's good for me is bad for the world |
This story sat poorly with me.
In the greater Boston area, this "housing slump" that is predicted to risk a world wide recession has brought home prices from "unattainable to "extremely expensive." The only reason why owning a home is something I can even THINK about is that I'm starting work at a big firm this year. If I was still the paralegal that I was 3 years ago, I would never own a house.
How can this be something that messes up a WORLD WIDE economy? Is the world truly dependent on the average U.S. citizen being unable to afford to purchase a house? I mean, I've been wondering if the "slump" was actually a normalization - that the market had gotten just so out of hand in the last (10?) years, that finally, there was a trend of self-correcting. But if that's the case, how can it result in world wide financial distress?
I am perplexed, and I believe that Capitalism has another black spot in my mind.Labels: economy |
posted by Zuska @ 1:31 PM   |
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