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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] The profound sense, the logic of homesteading, is once again ...
  • Date: Fri, 19 Sep 2008 12:31:34 EDT



> >whoever wrote the above is dead on...except I am not sure that the
> wealth is lost...maybe transferred.

Nope, lost. More accurately, never existed.

Most of the "lost" wealth was in the form of expectation, not reality.
Someone bought a house for $200K expecting that when they retire in a decade
or so,
it would be worth $1M. Now it is in foreclosure and will be received for
$120K or less.

What happened to the 'wealth' they thought they were sitting on top of. Did
it disppear? Was it transfered? No, it never existed.

People often say that something is worth what someone is willing to pay for
it. Likewise, wealth is valued at what you can buy for it when the time
comes.
The "investor" imagined they had $800K profit they were going to be
spending, but when they actually try to take that cruise, buy the RV, etc. it
turns
out that the "wealth" couldn't buy any of those things. </HTML>



  • Re: [Homestead] The profound sense, the logic of homesteading, is once again ..., Clansgian, 09/19/2008

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