Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (17866)	4/6/2002 7:56:33 AM
From: mcg404	Read Replies (1) of 74559

<<re: In America, Home Isn't Just Shelter Americans have demonstrated that when it comes to spending their hard-earned cash, a home and all the stuff that goes into it -- from furniture to windows to stoves -- tops the list.>> I'd agree with this statement with one minor adjustment: we change "hard-earned cash" to "borrowed money". Funny how the american consumer can hold the following beliefs: higher food costs - bad higher clothing costs - bad higher energy costs - bad higher housing costs - good Fails to make sense if owning a home is viewed as one aspect of fulfilling basic needs. But it works if the underlying motive for "ownership" is real estate speculation. Just another example of the endless belief in the free lunch and great fool theories?

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