[lbo-talk] A Bane Amid The Housing Boom: Rising Foreclosures

Doug Henwood dhenwood at panix.com
Mon May 30 08:46:30 PDT 2005


snitsnat quoted:


>He said they "witness the
>heart-wrenching scenes as families lose their primary means of wealth
>building and face eviction."

It's not a means of wealth building, it's a place to live! Even the officer prosecuting a foreclosure perpetuates the fantasy that a house can create social wealth, and is something more than fictitious value. But as the late Ed Hart of the late FNN used to say, housing inflation is the American national religion.

Doug



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