The current recession is based on two things — investment banks making up funny new investments like CDOs, and an explosive bubble in home values, which itself partially fueled the CDOs.
I've always thought the "home as investment" idea was a myth, and that, if the recession put a stake through its heart, that would be one good side effect, and now, Liz Pulliam Weston writes the column I haven't about exactly that idea. Specifically, she skewers the remodeling as investment.
Now, if we could just get states to pass truth in homeownership laws ...
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