You seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. 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. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
