[quote=deadzone][quote=flyer]dz, I think you might underestimate the many sources of wealth some have, other than the obvious, and who have been living the lives they want to live for many years mostly independent of market conditions.
Per this discussion, whether this, or other demographics are large enough to sustain the continued acceleration of pricing in the real estate market remains to be seen, and should be interesting to watch.[/quote]
There is no doubt the primary source of wealth in the U.S. comes from RE and Stock appreciation. If those markets take a 30 or 40% haircut, the reverse wealth effect will be staggering.[/quote]
There’s no doubt that when we see a crash, the poor and middle class will be hurt the most and the wealthy will be swooping in the pick up these assets at dirt cheap price and get that much richer. Wealth gap will grow.
Just like what happened in 2008, buyers at the bottom were the wealthy buying all cash while the sellers are the poor and middle class people who had to short sale or got foreclosed on.
