We're Looking at a Retirement Crisis, Because We're Gambling Unnecessarily

That's what's happened to our housing market... the only difference is that when you're talking homes, demand is really dependent on our ability to express it... and that means being able to get loans.

When investors fled the market for residential mortgage-backed securities in the latter part of 2007, after the ratings agencies downgraded the ratings on 1032 bond issues beginning on July 9th of that year, loans became scarce and then non-existent, and home prices fell off a cliff.

Today, we can't bring the demand back for numerous reasons, one of which being that we can't bring back the private securitization market and that means government the lender of first, last and only resort.''