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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (62622)	4/23/2005 11:30:01 PM
From: Moominoid	Read Replies (1) \| Respond to of 74559

So you are arguing that the house prices are rising because of something real being created - better governance, annihilation of distance or something that makes these assets more useful than before. That's something like some public goods that then raise the productivity of the other assets they are being used together with.... Yes that will improve the well-being of the homeowners. The price increases and foreign cash flowing in are both very real. If that is all that is happening it is nominal not real. A bit like when the Spanish took all that gold home from Mexico and got inflation.