Two Thoughts
Why is it that if gas prices dropped by 25 percent, we would be dancing in the streets ... but when housing prices drop 25 percent, we prepare for the next Great Depression?
And a corollary: Why is that when gas prices rise by 25, 50, even 100 percent, we denounce big oil for price gouging ... but when housing prices similarly soar, we gladly sell our homes at "market value"?
Chris,
I'm shocked, shocked that you do not understand basic economics and the theory of relativity:
When what you have becomes more expensive, it's inflation.(A bad thing) When what I want to sell becomes more expensive, it's appreciation.(Clearly, a good thing) Got it?
Cheers!
Jonathan
Well said, Chris! Do we really need all the panic that we're seeing? How about a little fortitude and patience and hard work instead....?