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balor123
Joined: 08 Mar 2008
Posts: 1204
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 Posted: Sat Feb 06, 2010 1:20 am GMT Post subject: Reflections on the Housing Market |
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Reflections on the Housing Market
| Karl Case wrote: |
I was glad that I bought...I remember the thought,
"This may not be fair, but it's nice.""
...
In Boston alone, that boom created
$100 billion in wealth.
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That's a phenomenal number for, what, maybe a million houses? That's $100k/house, or about the average equity mentioned in that other article.
I like that Karl Case mentions that it isn't fair. When some homes rise but incomes of buyers don't rise, that's not wealth but transfer of wealth. I wish more would see it this way or that the media would at least point it out. |
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