You Can't Build A Luxury Economy On Credit

I don’t know much about economics, and the only thing I remember from taking that class is supply and demand, I don’t remember the theory exactly but I think even I saw this economic crisis coming.

I was working for a major corporation as a sales consultant but wanted a little flexibility and the opportunity to make more money. I loved houses so I thought about real estate, Real Estate I thought would be a great way to be my own boss putting my skills and outgoing personality to use.

I went and got my sales person license and hooked up with a broker giving it a go part time. It didn’t take too long before I realized something. I lived in a middle to lower income community yet a single family home was going for over three hundred thousand. The same houses that were just over a hundred and fifty thousand only a few years before had almost doubled in price, while income in the neighborhood did not see the same increase. Guess what, people were getting loans and buying these houses.

There was the so called speculator "investor" who bought property only to resell in a couple of months; the developer who was buying every green space, every vacant lot, every house with a lot and building three or four houses; homeowners who saw the madness and decided to get in while the going was good were refinancing or putting their house up for sale; and the early victims of the sub-prime loans, people who bought homes they couldn't afford and were trying to get out from under the burden.

Don't Blame The Black For Prop 8

It has been a few days and I have been watching the protest and reading the comments posted here. I have been listening to pundants and commedians, and even the mayor of a California city blame african americans for the failure of this proposition #8. "How could a group who fought for so much take rights away from others", I have heard the argument framed.

What this shows me is that the election of Barack Obama has done nothing to change the nature of racial relations, African-Americans are still the first group blamed for any failure of another group. I take serious offense to this and I urge our homosexual brothers and sisters and their supporters to tone down the rhetoric.

African americans have for years had to compete with other groups who try to tie their struggles to the civil right movement. Blacks are not the ones in power or the ones who have been controlling the laws of the land, whites have--they are your oppressor. Also there are african-americans in the gay community. African Americans are not the ones who advocated for proposition 8 to be on the ballot, maybe you should direct your anger at those people.