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news
Joined: 14 Jul 2007 Posts: 0 Location: Greater Boston
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Renting in Mass
Joined: 26 Jun 2008 Posts: 381 Location: In a house I bought in December 2011
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Posted: Tue Jun 15, 2010 7:33 pm GMT Post subject: |
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Quote: | There has been a transfer of wealth from existing homeowners to new buyers,” he said. “If there are any winners it’s first-time homebuyers. |
Really? What did I win? The ability to buy a 3 bedroom house for 340k instead of 380k? Whooptie doo! How is it a transfer of wealth to me if I buy a house for 340k that someone bought for 220k in 2000? Call me when I can buy it for 150k. That would be a transfer of wealth! |
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balor123
Joined: 08 Mar 2008 Posts: 1204
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Posted: Wed Jun 16, 2010 12:24 am GMT Post subject: |
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Yeah - the direction is completely wrong. A better way of describing it is a transfer of wealth from recent homeowners and FTHB to previous homeowners. A simpler way of describing it is a transfer of wealth from us to our parents. |
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