[ExI] Uneven price rises in the housing market/was Re: simple solution to health care
dan_ust at yahoo.com
Thu Jun 25 22:02:37 UTC 2009
--- On Thu, 6/25/09, Max More <max at maxmore.com> wrote:
>> PS. The US is in the middle of a housing slump.
>> That 150,000 USD house probably cost 300,000 USD two
>> years ago.
> Actually, no. Texas house prices never had a big run up and
> so have
> not dropped. Since we bought our current house in Austin a
> couple of
> years ago, the value has actually risen a little bit. (That
> might be
> partly due to Natasha's amazing tree-planting campaign...)
> I believe
> San Antonio prices trends have been similar.
I noticed this too around the country... And this is kind of what one would expect: inflation doesn't raise all prices even in the same industry at the same rate all over. The really hot housing markets -- LV, SoCal, etc. -- went up much higher and then dropped quickly. But these were areas where a lot of people were, IIRC, buying to flip right away. (N.B.: people who blame private individuals for not thinking long range should note that the inflationary boom made people treat housing like a short-term investment. I.e., it's not inherent in the market, but caused by government credit expansionary policy. Well, that and the other pro-buy-a-home policies.)
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