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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (31575)5/19/2005 1:58:18 PM
From: CronyRead Replies (1) | Respond to of 306849
 
RE: is a diversion of resources that has little or no beneficial effect on the economy. Good riddance to it if it busts.

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But what about the wealth effect it produces? Doesn't US economy depend on consumers that have an ability to use their homes as ATMs. If the RE bubble bursts, how will an average Joe Homeowner with an income of $30K be able to buy all the SUVs and plasma TVs? I think, at this point, the impact on the economy will be huge.


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