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

To: GraceZ who wrote (81212)	7/15/2007 5:26:48 PM
From: saveslivesbyday	Read Replies (2) \| Respond to of 306849

In America, in 2007, I believe that in general people look more at the expected current or future value of their house, than the "value of housing services." - especially the ones gobbling up goods and services with MEW $$$. The flippers who helped drive the prices up in bubble areas by 25, 50, 100% were clearly looking at the future value alone. I'm not sure you're saying this but when one owns a house, and lives there, it is clearly a depreciating liability, rather than an asset. But it is the only depreciating liability I know of that becomes an appreciating asset over time - once there is no more interest accruing. IMO people become particularly confused about this during periods of rapid appreciation, as the one we just experienced.