Housing in Ten Words: "Housing Fades as a Means to Build Wealth, Analysts Say.' That’s the title of a New York Times article by David Streitfeld. Here’s most of the lead:
'Many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg.
The wealth generated by housing in those decades, particularly on the coasts, did more than assure the owners a comfortable retirement. It powered the economy, paying for the education of children and grandchildren, keeping the cruise ships and golf courses full and the restaurants humming.
'More than likely, that era is gone for good.'"
Gulp... there goes Vegas, the Love Boat, and any resort not named "Disney Something...". But at least the ten dollar 'escort' will be coming back !
Tuesday, August 24, 2010
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