[quote=AN]. . . Home owner don’t care about real prices. They care about nominal prices.[/quote]
Correct, AN. Longtime owners with equity care about getting back their initial investment (downpayment) and as much of their own money as possible that they sunk into permits and labor/materials in their property over the years (depending on how long ago those improvements were made and what they were).
It has nothing to do with wanting a “millenium-boom bubble price.”
