Hey I remember hearing stories (im only 24 so i was too young to remember) about record gas prices and a failing housing market in the U.S. during the 80's. History usually repeats so does this mean we should expect a housing boom and cheap gas again within the next few years, or Are current problems a backlash from Bush or really latent Clinton policies.
It would be nice to hear from someone who was old enough to remember the 80's as I was probly more concerned with getting my diaper changed than buying gas at the time. Let me know as This is an important topic I'm researching now.
digging deep down into history you will see that it is repetitive all the way. and it is a social movement with economic consequences. If a person tells you that houseprices might start dropping, and you believe this person to be credible, you would postpone buying a house as hey - what if the guy is right - and you don't want to pay more than you have to do you? So you wait. If there's enough people believing this and as a consequence wait - fewer people will be able to sell their houses - and the price will drop. Hej ... now the point is proven so wait a bit longer and guess what happens? This is not new. What is interesting is how it starts. Why do people at all start thinking that NOW it must go wrong? after all, it is not until we think the thought as a collective cluster of people that it also starts going wrong. Is it because we can't believe that things just grow and develop positively? Hm. I wonder when we learn.
Right now it's sort of like a mini version of the Great Depression. People are scared to buy houses now, so the demand drops. The prices plummet, and people can't pay their debts.
I don't know but the lines at gas stations is getting ridiculous lol