So if there was NEVER wealth in the housing market then there was never wealth in any kind of market? Stocks, equities, Retirement accounts etc. OF course there was wealth in the housing market..Look how many people got wealthy at that time. It is all about timing and getting in at the right time and getting out at the right time. Like ANY investment same thing applies. Right now again...there are people getting very Wealthy on RE again. Buying low, selling high. It id Not Rocket science. Be smart when you buy. My Dad always told me "you make your money going into the deal" more than going out of it. In other words make a prudent, timeley investment.
You got wealthy if you sold in the middle of the ponzi scheme. That is how it works. The people left with the oversized mortgage on an undersized home that no one wants, lose their shirt. There is no such thing as wealth in housing. There is making money off the greed of banks and realtors. However, for every buck extracted from the system, there is a buck taking from somewhere (taxpayers, corporate taxes, investment taxes, etc.). Remember, housing tracks salaries. It is not an investment.
Not 1% of this country can read that graph. Hell, not 0.1%.
I'm not sure I can read the graph the way you want me to, but my guess is that I'm supposed to notice (and be alarmed by) the rapid increase during the first decade of the century. That in itself looks troubling, but when you overlay GDP, it doesn't look nearly so out of whack.
The debt growth turned upward around 2000, while GDP flattened..if that had continued, I think things would get a lot worse before they got better...but since 2009 or so things look a lot better in terms of household debt vs GDP. What am I missing?