[extropy-chat] Housing bubble looking good

Chris Hibbert hibbert at mydruthers.com
Thu Mar 9 17:27:23 UTC 2006

Russell Wallace asked in response to a Hal Finney posting:
> I'm curious - why do you call it good news? Granted if you yourself
> own a house it is good for you personally, but overall, inflated
> house prices are a negative-sum game, 

I don't know what Hal's reasons were, but the reason it looks good in 
general for the economy, is as an alternative to the widespread view of 
the bubble proponents.  The usual intended meaning of the claim that 
"it's a bubble" is that there's a crash coming.  A crash would be very 
bad for the economy, so indications that the boom will merely slow or 
will continue are good news in pointing to non-crash scenarios.

It is easy to turn an aquarium into fish soup, but not so
easy to turn fish soup back into an aquarium.
-- Lech Walesa on reverting to a market economy.

Chris Hibbert
hibbert at mydruthers.com
Blog:   http://pancrit.org

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