One of the YouTube parodies of the 2004 German movie Downfall features Hitler lamenting the effect of the declining housing market on his new McMansion. Here is a small part of Hitler’s complaints:
Real estate only goes up! My broker told me it only goes up! I cannot believe I’m going to have to sell my house before I can flip it for a profit. That bimbo said I could always refinance before the rates went up! I’m going to have to sell assets to raise cash. I’ll love my vintage Camaro SS! I got that car with my home equity loan along with my flatscreen TV and a bunch of other toys!
Question from military official: But you didn’t put any money down, how can you complain?
Response: Everyone was doing it! I needed a nice car and a new television!
Question from the same official: What about all the people who lived within their means?
Response: Screw them. I invested in that house to live the life of luxury I am entitled to! There was equity in the house! I thought that renters and conservative homeowners were suckers for not jumping on the credit gravy-train. I was going to flip it and my investment would double!
And on it goes. Some interesting commentary on the housing bubble. Of course, the housing bubble didn’t just affect McMansion owners but they are often blamed for inflating the market with big houses and big mortgages that they couldn’t afford. Putting these words in the mouth of the most recognized evil person in recent human memory only serves to drive home the argument…