“Long term prices of houses simply cannot rise above people’s means to pay for them. That is a simple economic fact. Here is another simple economic fact: Family incomes are falling. The negative savings rate and rising foreclosures are more proof of stress in the system.” – Mike “Mish” Shedlock, Mish’s Global Economic Trend Analysis, April 2006, as quoted at SafeHaven.com
Jim’s Quote of the Day:
