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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Housing bubble
  • Date: Wed, 01 Jun 2005 07:41:36 -0700


Doesn't that smack of the DotBomb.com business of a few years ago?

The dot com bust was consumer greed frenzy at its most hideous or hilarious, take your pick. The paradigm of home sellers moving up to another price level has been going on for the thirty-six years I have been in and around the real estate business.

Consumers tend to be a bit behind the knowledge curve in any economic sector. I still find myself educating buyers and sellers on the IRS home sale profit no-tax gift. That rule plus low interest allows today's sellers to not only buy a more expensive home for their family, it allows them to buy investment property or take a trip around the world. I do not pretend to understand national or international economics but I do understand the effect of a dollar moving through many hands, each transaction contributing to the health of the economy. I have also come to understand that "consumer confidence" has a huge effect on our economy.






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