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I agree they should be deflated, if overpriced.

I agree they should be deflated, if overpriced. My point was that the people who don't own homes also suffer from real-estate declines in many cases, with the current way the financial system is intertwined with real estate (which is itself a problem). By dollar terms the vast majority of money lost in the '08 real-estate crash was lost by people who didn't actually own a house or condo, because the second-order losses were much larger than the primary losses.

Posted by _delirium on Nov 28, 2014, 11:26 PM

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I agree they should be deflated, if overpriced.

_deliriumNov 28, 2014, 11:26 PM

I agree they should be deflated, if overpriced. My point was that the people who don't own homes also suffer from real-estate declines in many cases, with the current way the financial system is intertwined with real estate (which is itself a problem). By dollar terms the vast majority of money lost in the '08 real-estate crash was lost by people who didn't actually own a house or condo, because the second-order losses were much larger than the primary losses.

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