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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] More on the "bubble"
  • Date: Fri, 3 Jun 2005 14:26:59 EDT


> People can live without gas and oil. People can easily live without stocks.
> People cannot live without housing. Air, water, food, housing.

To be sure, but people don't need much housing. They certainly don't need
huge cavernous houses, vacation houses, speculative houses, or rental houses.

One reason housing prices are high is because so many people now of days
think
that it would be neat to own four or five of them. Like everything else, as
soon as they get to be viewed as not so bright an investment or status symbol
and only a relative minor percent of the people dump their extra, or extra
large, houses on the market, one of two things happens:

1) Prices drop dramatically
or
2) No one sells their house

Have you ever visited the historic area of Savanah? The old houses there are
in a remarkable state of preservation because laking large timber but having
lots of scrap trees for charcoal and lots of iron deposits, a lot of the
construction such as stairs, window frames, etc. were made of iron. Huge
cavernous
sweeping homes for one family during opulent times that by the 20's housed
four to eight families each and fell into a state of disrepair. When times
get
pinched, extended families tend to clump back together and share housing, as
happens with so many immigrant families to this day.

Everyone needs housing, that will never change. What will change is how much
housing is viewed as "needed".

James




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