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 ...
A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
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As seen at Washington Babylon and other fine establishments
March 10, 2010
One upside to recession – killing homeownership myths
Labels:
homeownership
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