European Tribune - Comments - Bank Nationalisation and You.

Bank Nationalisation and You. | 74 comments (74 topical, 0 editorial, 0 hidden)

"It's just that real estate markets have been politically expedient to create bubbles in for the last couple of decades, because real estate is the asset class that Main Street owns and feels comfortable with."

I just add that not all "Main Street" owns Real Estate. I believe that in fact it is quite a selected group that really owns land and takes the "rent" from economy. Of course average Joe likes to see his/hers real estate value grow, but in both cases, it is in the end economic rent they cash in.

by kjr63 on Sun Feb 22nd, 2009 at 01:11:47 PM EST
[ Parent ]

Re: Some correction (none / 0)

The Main Streeters who don't own real estate are unlikely to be buying into other major asset classes either - whether because they have no money, or because they're firm believers in the Bank of Serta. So in terms of separating people from their wealth, they're not as interesting.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Feb 22nd, 2009 at 01:19:36 PM EST
[ Parent ]

Bank Nationalisation and You. | 74 comments (74 topical, 0 editorial, 0 hidden)

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