This is going to put a crimp in house sales; in fact, it may bring them to a screeching halt

Dow’s down 30% and undoubtedly headed lower. Gold bugs must be feeling smug, but who would sell stock now to finance a house purchase? On the other hand, if you’re liquid, there should be some real bargains coming in houses whose owners can’t afford to await the rebound.

Interesting times.

UPDATE: Eagle-eyed brother Anthony points out that our grandfather John Gilbert is the subject of the really important story in Variety that day, ‘Kidding Kissers”. I believe Gilbert kept his money during the ensuing depression — hell, MGM was paying him $500,000 a year — but conniving lawyers, crooked judges, and a larcenous fifth (?) wife grabbed hold of his estate and ensured that his deserving grandchildren woukd have to work for a living well into their dotage.

I hate when that happens!