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Politics : Politics for Pros- moderated

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To: Condor who wrote (775)	5/9/2003 10:36:21 PM
From: mistermj	Read Replies (1) of 794139

>>Therein lies the danger in assuming home value is savings<< Good point Condor but following that same line is there not the same danger in assuming savings are savings if they really represent yen,marks or dollars. All markets have bubbles and can be devalued.A home is a hard asset...fiat money is just a paper I.O.U. A depression may knock down the relative value of a home and make the yen or dollar nearly worthless...but obviously that home still has a large value in whatever the new mode of determining value is.(I guess you better own that home however or else you are on the hook for a bubble based mortgage in a now depressed and devalued wage market) This is where economics starts getting tricky...but it is fun to discuss. Got Gold? safehaven.com

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