Shades, Below is the quote from the link that you had posted:
query.nytimes.com
"Beginning with 1930, when the median home value was $4,800, the census data show clearly that prices move down, as well as up. By 1940, the median value had dropped more than 50 percent to $3,000"
-- Now, That is from the very link you provided. And it is claiming 50% drop in 10 years - NATIONALLY (national survey by census bureau) - AND NOT IN SOME COUNTY. I would think that between 1929 and 33 it could have fallen 80% - seems reasonable. I'm not sure if you are going to distrust this stats as well. However, can you show me in AGD where Murray Rothbard says house price remain stable?
I'm EXTREMELY surprised by your facts. You are saying food prices fell 50% etc but house prices stayed fairly stable? And you are defending it? Common shades, you think, people will buy food only at lower prices but not houses? Are your sure, you are going to stick to that fact?
Actually, I believe in exactly the opposite of your facts. i.e Food prices dont fall much but asset prices fall like crazy. I believe this is Russ, Doug Noland's position. I tried to check for these facts in AGD - unfortunately, he only says food prices stayed high because of price support mechanism etc but never talks about asset prices (other than stock market). |
