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Politics : Politics for Pros- moderated
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To: Bearcatbob who wrote (306827)5/25/2009 9:09:02 PM
From: Alan Smithee2 Recommendations  Read Replies (1) of 793739
 
I think most of them are completely ignorant when it comes to economics. They simply think wealth is there to be harvested and that it will always be there to harvest. We have a nation of economic illiterates.

I am experiencing that first hand. Aside from me, my entire family is Democrat. We are in the process of probating my mother's estate. My family and the property is in Michigan. I live in the Inland Northwest.

We have decided we need to sell the family home. The realtor (a top realtor in the area) came in with a valuation of the property that shocked even me. My brothers and sisters, however, are dumbfounded. They are convinced the realtor "doesn't understand the property," which is an old farm house. Unique property, but noting overly special or historic.

They have no concept of economics or how a market is made. They don't understand supply and demand. Seem to think this house has some special, intrinsic value to someone who will be willing to pay a premium for it. Problem is, very, very few people are buying houses these days in SE Michigan.

Not gonna happen. The market is what it is, and it's influenced by the state economy and a surplus of foreclosure homes on the market. If they had even moderate schooling in economic theory they'd get it, but they don't.

Oh, have I mentioned they are all knee-jerk democrats who voted for Obama?
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