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It sounds to me like what SUDs is saying is that a little bit of spare cash or spare income burns a hole in the pockets of working class people. It's not cool, and it's not hip, to save it conservatively.
It is the liquidity trap on a micro-scale.
theotherside Says:
> Suds, Very smart rebuttal….although the bubble believers
> will very shortly start calling a troll or a real estate agent
> or worse a Casey Serin….
I don’t think that Suds is a troll, I really think he is a guy from India that does not know much about Real Estate or Investing, but I do think that theotherside is a Realtor hoping to convince people that buying a home is always a good investment…
I plead laziness (besetting sin) and an unwillingness to consider an MIT publication to have erred in this way. Evidently Himmelberg and friends do in fact conclude there is no affordability crisis.
As with Forbes, I expected better.
Academic publications are quite fallible, esp. outside of the natural/hard sciences. Otherwise, how can one explain the prevalence of campus Marxist and those Che T-shirt wearing drones?
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From a reader:
Wow, where to start with this guy? How about this:
Patrick
#housing