Tuesday, December 8, 2009

House Price Do Not Affect a Nation’s Wealth

"Nobody" Wants More Foreclosures?

"The real estate lobby seems to have won a permanent propaganda victory over economics journalists on the dangers of falling prices in real estate." As a nation, if we borrow money on the liabilty side of our balance sheet, and house prices rise on the asset side as a result, no wealth has been created.

Posted by ontheotherhand @ 01:33 PM (884 views)
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