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Oh this I know this I know.. becae I trust P. Solbes actually.

A freeze in the house market for adecade will be desirable/necessary.. prices increased too mcuh .way too much  and there was a bubble in the extreme growth of prices...with people investing in houses..

A certains ectr of thepopualtion have house that do not sell or rent or anything.. they have it as an ivnestment...(frm 3 to 10 flats typically)

So nobdy wants to touch it. upper middle class in Sain is based on these houses and they are powerful.

But balanced can be achieved if prices grow below inflation for 5-10 years... right now it is just too much for the middle class..

The amount of debt in mortgages is huge huge huge...

Plus investemnt in houses made other investments in spain (R+D) almost nill...

So hopefully we got it on time and we cool it on time....and ina nyc ase we cold happily sustain a 5% decrease in direct consuemr prices for a couple of years... probably it would be better... but the power to be does not want...

A pleasre

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Thu Nov 22nd, 2007 at 11:46:25 AM EST
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