The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (67901)	8/10/2006 11:23:35 AM
From: Tommaso	Read Replies (2) of 110194

>>>You can easily compare the SAME house by looking at its price history -- it does not take much of a brain to see an enormous jump in prices over time for the SAME house.<<< Yes. In 1947 my parents bought a house--really two houses--built in 1927 at a cost that I do not know, but probably more than they paid--say, $50,000. They got the houses--both--for $23,000 because of the effect of the Depression and World War II and the location. My mother sold the houses in about 1976 for $108,000. The next buyer sold about ten or fifteen years later for about $500,000. I think the house sold again recently for over a million. We bought our house in 1977 for $56,000. We could sell it for $350,000. Some decline in house prices is possible and, I think, likely. General deflation is extremely unlikely. Loss of purchasing power of the dollar is extremely likely.

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