Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: gg cox who wrote (39670)	10/16/2003 7:15:41 PM
From: elmatador	Read Replies (1) of 74559

Thanks ggcox! "real estate market has actually made the marginal homeowner poorer." Hence no wealth to tranfer. gg, I lived in Brazil at leats part of the hyper-inflation. I know how those things work. You get somehting as a resevr of value it jumps up in price, you sell to the next guy who is looking for reserve of value gainst inflation and so it went. "...We just want you to admit that a homeowner who takes 'equity' out of his house is actually poorer than the one who does not. And since low interest rates and rising real estate prices are an invitation to 'take out' this 'equity,' it might also be correct to say that the boom in the real estate market has actually made the marginal homeowner poorer. Am I wrong about that?"

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