Who will buy up all those vacant McMansions in warm states?
We like Steve Sailer’s deeply disturbing theory:
The Canadian government has been running surpluses, and there wasn’t much of a housing bubble up there. There are a lot of Canadian baby boomers reaching retirement age, and the idea of buying or renting a cheap winter home in California, Nevada, Arizona, or Florida has to sound appealing.
Obama, please, reflate the housing market now before it’s too late! And make sure those artificially subsidized mortgages aren’t going to any interlopers from up north!