One reader wants to discuss the blow-back from the housing bubble. "I would like to see a general discussion on how these posters here think the housing bust will affect THEIR jobs. In my opinion, there is too much excitement about this housing downturn on this blog with the intent picking up houses for less money. If your laid off in a recession you probably won’t be buying."

Another added, "Topic suggestion: Internet morality lectures vs. schadenfreude. My position is there is no shame left in the world and that is a bad thing. A person getting a pounded and trapped by RE and then being publicly humiliated is a lesson that will never be forgotten."

"I will gladly take a career reorganization to have housing be in line with incomes. It has happened before it will happen again both housing and career corrections. The only people hurt will be those that don’t update their skills and are less employable. Part of the point of this blog is how to position yourself defensively so as to not be in that position."

"If you know a storm is coming and prepare the odds are in your favor than people basing the decisions on the weather for the last couple of days."

To which the first reader replied, "And you could do this now by moving to an area where housing is in line with incomes. The point I was trying to make is that the correction in housing prices will not occur in a vacuum and there will be residual fallout. I just think that this is somewhat overlooked on this blog because the general focus is on picking up lower priced RE. As far as being educated and keeping your skills updated to protect yourself, I couldn’t agree with you more. But if things get really bad, as in a depression, you could see 100 people applying for every one job opening even at the higher skill level. At that point your playing a numbers game and the odds aren’t in your favor."

Reply, "I don’t predict a depression. But even in a depression I would welcome whatever happened. It would be pointless and frustrating to give internet morality lectures. If you look at it from and evolutionary biology point of view the population and relative health of the population is what matters not the individual."

A third reader said, "Excellent point. I recall hiring for a mid-level planning position here in SCal during the last crash. Ad on Sunday. By Wed, had over 200 resumes, many VERY well qual’d. Guaranteed that we’ll have a lot of collateral damage."

A fourth points out, "The high cost of housing is speeding up the export of jobs out of America. Why hire someone that has a 500,000 mortgage, when you can hire someone with a 30,000 mortgage in India? The cost of housing is bad for Americas ability to compete."