The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: shades who wrote (46946)	1/11/2006 1:19:58 PM
From: gpowell	Read Replies (2) of 306849

You say it should be evident - but it is not evident to me. If households are directly investing and creating the capital goods that produce housing services because of their desire to consume those services in the future, then it cannot be a misallocation of resources. If you buy coast soap or ivory soap and pay for it by selling off your farm as Buffet claims we are doing - isn't that a foolish action long term? How is it leading to socialism when buffet says that buying 200 dollar nike shoes and 10 dollar starbucks coffee by selling off our farm is stupid? The last time I went to buy a TV - all made overseas - same for most of the stuff in my house and car. I dont think buffet is saying you are an idiot because you buy bud lite over michelob - but that you are paying for it by going deeper and deeper into debt and that is dumb. Net worth, exclusive of housing equity and corporate equities, are higher than they have ever been and are on the same growth trend they have been since 1952. i10.photobucket.com

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