JWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”

Oh silly Raybyrnes, come on, you should know better by now.

Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.