Anecdotal info from the LA Times: "Homeownership loses its luster: Economic uncertainty, unstable prices and simple math have given Americans less incentive to buy." http://www.latimes.com/business/la-fi-renters-20110219,0,6846786,full.story. And they published a Michael Kinsley editorial against rising home prices: http://www.latimes.com/news/opinion/commentary/la-oe-kinsley-home-prices-20110215,0,5042856.story. Maybe there is a chance in my lifetime people will think of housing as a depreciating consumption good and not an appreciating capital investment.
David Shemano --- Original Message--- To: Progressive Economics <[email protected]> From: michael perelman <[email protected]> Sent: 2/19/2011 9:41PM Subject: Re: [Pen-l] Home ownership >> I suspected that was what you meant. The association makes sense. >> Home ownership reduces people's willingness to pick up and move, >> especially because unemployment is associated with the decline in >> housing prices. Of course, correlation is not proof, but I cannot >> think of a greater causal relationship. >> >> On Sat, Feb 19, 2011 at 3:48 PM, hari kumar <[email protected]> wrote: >> > >> > Michael: >> > Cofounders? I don't understand. >> > Hari: M: This graphic depiction only shows an associaion, it is hardly >> > showing a causal relationship. Of course any randomised comparison is >> > impossible - I am not suggesting it would be possible. However, what makes >> > for the strength of this association? Are there *other* independent >> > relationships that suggest it "may be a truely" causative one? >> > H >> > _______________________________________________ >> > pen-l mailing list >> > [email protected] >> > https://lists.csuchico.edu/mailman/listinfo/pen-l >> > >> > >> >> >> >> -- >> Michael Perelman >> Economics Department >> California State University >> Chico, CA >> 95929 >> >> 530 898 5321 >> fax 530 898 5901 >> http://michaelperelman.wordpress.com >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l >>
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