A Kennedy/Shoeshine Boy Moment? from George Zachar
The long-time produce clerk at the locals' supermarket here in Aspen was chatting up a customer this morning.
"Do you watch the stock market? It's been going down down down. Yes it jumps every now and then, but still, it's going down.
"Then I heard on the radio that a lot of people are going to start walking away from their mortgages….just walking away from their houses….Do you think that can happen here?"
The customer was probably a local real estate broker, because he paused and gave a very detailed description of how the different sub-markets in this area would behave under different mortgage market scenarios.
"Okay, okay," the clerk continued. "So you think I should still go ahead and buy that house?"
At that point I couldn't find anything else nearby to pretend to examine, so I moved on.
A Kennedy/shoeshine boy moment?