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To: Peter Dierks who wrote (25)4/19/2006 3:35:06 PM
From: White Bear  Read Replies (1) | Respond to of 340
 
The increased value of the homes is only on paper but it adds to peoples view of their overall net worth. It gives them optimism. Some people only have paper wealth.

I was in CA when home values dropped 25% in the early 90's. People buckled down and worked harder.



To: Peter Dierks who wrote (25)4/20/2006 12:09:19 AM
From: richardred  Read Replies (1) | Respond to of 340
 
>Common wisdom is that many people have been using the rise in their home home equity to supplement their lifestyles

Now that the homes have been built. They have to be filled with goods.


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