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Increasing house prices are not even on paper wealth.

The video
"The Coming Collapse of the Middle Class" under the url
youtube.com/watch?v=akVL7QY0S8A

is lengthy but it is described, that the median US household's main increase in expenses in the last 30 years was housing (next to health care), even when the median size of the houses went only up less than one room. The house price boom has become the biggest danger for the middle class in the US in the last years. The point is, that in a sense houses are consumer goods not financial assets, you usually live in them. If you sell the house in which you live, you likely will buy another one. So increasing house prices are inflation.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Tue Apr 8th, 2008 at 01:58:16 PM EST
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