Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (78426)	4/28/2008 11:17:15 AM
From: Steve Lokness	Read Replies (1) of 116555

Mish; Home prices are crashing. That is the single biggest expense anyone has. Don't you think though that one reason home prices are crashing is that the energy and food inflation is making it increasingly hard to maintain your home? People in their balloon mania bought homes too big and too grande for them to maintain and so now that the prices of all those things needed to maintain your home are shooting skyward, people unable to pay the piper must sell. That adds to the already heavy supply. .......There is little doubt that the cost of energy to heat/cool your home are jumping as are the taxes just now catching up to the rising values. Even transportation cost to reach your new home in that locked gate community far away from town is an cost although indirect for all the new "trophy" homes. Throw in higher insurance prices. For me there has been no inflation or deflation in my home because I owned it and will own it all along. I don't borrow on it so it's value is meaningless. What is NOT meaningless though is all those cost shooting upwards mentioned above. respectfully; steve

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