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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: BWAC who wrote (166388)11/22/2008 5:57:52 PM
From: neolibRead Replies (1) of 306849
 
Your analysis is kind of assuming there is no time value to money. In addition, your choice of low income resulting in carry forwards precludes buying more each year. A more typical example is the farmer clearing $200K each year, and buying a $40K new pickup each year because it only "costs" him $20K compared with putting the money in the bank at the end of the year. It is precisely this over consumptive behavior that the law is trying to encourage. Of course that points out the fact that Detroit was already on borrowed time these last few years, because demand was distorted in their favor. When conditions changed, the distortion vanished in a hurry, what a shock...
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