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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Micawber who wrote (25718)12/8/2004 5:08:10 PM
From: Elroy JetsonRead Replies (3) of 306849
 
That's a quite a revisionist statement, "Real estate markets are built on debt".

Believe it or not, Americans used to save up and buy their home for cash when they could afford it.

Both of my Grandparents paid cash for their homes in Los Angeles.

People often bought the lot first and expanded their home as their economic situation improved.

I think you meant to say, "Since 1945 real estate markets have been built on debt, just like other previous speculative bubbles".

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