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

To: J. P. who wrote (67529)	11/29/2006 1:13:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

I guess I don't have a clue as to what you are implying then. Housing prices have shifted up one socio economic class? How is that possible? This is a supply and demand economy. People will buy what they want as long as they feel the price is acceptable and they have access to the money. I don't see housing as belonging to "classes" any more than I think of a person's status based on what they live in. To judge a person's status by the house they live in is a defective stereotype. I know lots of folks who live in houses much more expensive than they can afford, living from paycheck to paycheck and praying they don't lose their job. I consider them fools, and fools like to be together so if fools form a socio-economic class then what you are saying makes sense to me. Others live in modest houses and travel extensively. Still others live in plain houses and pour all their money into their business ventures. A person's house has almost nothing to do with their financial condition, especially when credit is so cheap and easy. You might think a person is fabulously wealthy as the bank is preparing to foreclose on their beautiful house. If credit becomes more expensive, as it has been, or standards tighten, as they will, then that's a different story. That's when people's financial status can prevent them from buying what they want, or take away what they thought was "theirs".