[lbo-talk] Dean Baker: let house prices fall further

shag carpet bomb shag at cleandraws.com
Wed Dec 3 17:35:12 PST 2008


At 08:22 PM 12/3/2008, shag carpet bomb wrote:


>>The inversion of this response in the case of housing
>>is an index of the fabulously successful use of house
>>ownership as a means of social control.
>>
>>--
>
>
>but it took 25 years to appreciate in value at all, going from 25k to
>32.5k in value),

15 years, I meant. He bought it back in 1977 or something. I didn't know him until ten years later, but even then the house was still worth around what he paid for it. it was only a few years later that the house next door, exactly the same, only slightly updated, went for 32.5k.



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