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Article: Look to the future, it's a bargain basement economy.(REAL ESTATE)(Column)
- Article from:
- San Diego Business Journal
- Article date:
- September 29, 2008
- Author:
CopyrightCOPYRIGHT 2008 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When conditions appear the darkest, it is actually a good time to think about the future.
The cataclysmic economic events of the past two weeks cause me to think about the recovery phase of the market.
I cannot know whether a $700 billion government bailout is the elixir. While the problem we are dealing with is gargantuan, the explanation is not complicated.
A very large amount of bad loans were made to people who were not qualified. The loans were made by entities that took a fee and/or profit, and then downloaded the problem to investors.
Those investors were caught holding the bag.
Many are now out of business, or ...