(Note: again, posted out of order. Still sorry.)
RE: The Five Percent Argument (and Churn). The single most aggravating argument I consistently hear across CNBC is, that because housing only accounts for 5% of the economy, housing doesn’t matter. Housing is the fundamental investment in the continuing value of this country, what makes America worth what it is verses other countries and the basis of ANY future measure of worth that has any permanence. The corporations have realized they are better off churning the money of the system over and over, skimming a little off the top each time, selling this as “America’s fundamentally consumer-driven society” , which makes people hesitant not to spend because it would be bad for the economy. This mindset is destroying the housing market, housing valuations, individual net worth and the future prosperity of this country. It is analogous to saying that because oxygen is only 21% of the atmosphere, we don’t need it though I would disagree. Call me rational (even though I may not immediately respond to that term). Context is everything, always… I’ve got to go now, I’m getting my new Ipad today (very excited). I’m going to be the coolest guy at the homeless shelter. All the Best, TVA
RE: The Five Percent Argument (and Churn). The single most aggravating argument I consistently hear across CNBC is, that because housing only accounts for 5% of the economy, housing doesn’t matter. Housing is the fundamental investment in the continuing value of this country, what makes America worth what it is verses other countries and the basis of ANY future measure of worth that has any permanence. The corporations have realized they are better off churning the money of the system over and over, skimming a little off the top each time, selling this as “America’s fundamentally consumer-driven society” , which makes people hesitant not to spend because it would be bad for the economy. This mindset is destroying the housing market, housing valuations, individual net worth and the future prosperity of this country. It is analogous to saying that because oxygen is only 21% of the atmosphere, we don’t need it though I would disagree. Call me rational (even though I may not immediately respond to that term). Context is everything, always… I’ve got to go now, I’m getting my new Ipad today (very excited). I’m going to be the coolest guy at the homeless shelter. All the Best, TVA
