>John, well done getting out in time. Of course "somebody" has to own the properties needed for people who aren't ready/willing/able to take responsibility for ownership. Perhaps it'll end up like parts of Europe where people expect to live out their lives in property owned by monarchy/nobility or firms whose medium-term spans a century or two and which don't need to borrow.

Well, I think capitalism should be allowed to work it's magic. I just bought a forclosure here in Memphis, that appraised for 68k, for 40k. My 19 y/o son and wife, and I have been working on it. Whenever I decide to sell, I think I will probably net a nice profit. One man's poison. . . .