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


To: GraceZ who wrote (37740)8/12/2005 11:28:36 PM
From: John VosillaRead Replies (3) | Respond to of 306849
 
"As people's wealth rises they spend a smaller portion of their income on the basic necessities and more on discretionary expenditures. If shelter wasn't shrinking as a percentage of their spending then they wouldn't be able to do this."

Ownership society on steroids. Doesn't each person have on average now perhaps 800 sf of living space? 50 years ago 4 people lived comfortably in an 800 sf house.