Wednesday, Sep 30, 2009

That will make housing $8000 more expensive

Daily Reckoning: A century of bad ideas

House prices seem to be stabilising. In some areas, they are going up. Of course, in some places you can get a house at half the price it sold for two years ago. That lures buyers back into the market. If we wanted a house to live in, we might be tempted too. That’s why we like falling housing prices: we get more for our money. But most people want a rising housing market. They think it makes them richer.
They’re likely to be disappointed. They show up at the beach with their umbrellas and sun-tan lotion... just as a winter storm hits the coast.

Posted by apophis @ 04:22 PM (571 views)
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