A Thought on the housing crisis.

Imagine a builder builds a subdivision of 10 ten houses all alike. He sells them each for $100,000.

Next, a newcomer buys the first house for $110,000. The seller then buys his neighbor house for what he sold his plus $10,0000, i.e. the second house sells for $120,000 and the tenth house sells for $200,000. The tenth seller than buys the first house for $210,000 from the newcomer. So the newcomer has made $100,000. And because each of the houses are the same and worth what the last house was sold for, each homeowner now owns a $210,000 for which they paid $100,000 plus $10,000. Thus they turned a $1,100,000 investment into $2,100,000, or a $1,0000,000 profit.

Then, they try to sell the houses, find their houses are not worth what they paid for it and ask the Obama administration to make up the difference.