On Saturday 16 July 2005 09:55 am, Todd Walton wrote: > On 7/15/05, boblq <[EMAIL PROTECTED]> wrote: > > Moreover you are looking at two distributions: one for most of us > > and another for people for whom price is not an issue. > > False dichotomy. Price in a free market (as real estate mostly is) is > an amount of money that some seller and some buyer have agreed will be > the exchange for the thing being priced. With different buyers and > different sellers having different standards of fairness, prices > naturally fall across the spectrum. Some people can't pay much, if > anything, and some people can pay much more than they'll ever be > expected to.
OK. I will give you most of that. You are describing the first distribution. > But there is no economic class for which price is truly > not an issue. Not true. Houses tend to top out at $20-30 Million ... There is a class of people for whom that is pocket change. These people do not worry about the cost of personal housing. That is not to say they don't have their agents negotiate they best possible deal, but if they want it they will pay. These people have other much larger financial issues to worry about. Houses from say $5 Million up fall into this second class. Here is one good example: http://www.signonsandiego.com/uniontrib/20040826/news_1c26rancho.html -- [email protected] http://www.kernel-panic.org/cgi-bin/mailman/listinfo/kplug-list
