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KurtNYC

(14,549 posts)

2. At what point is it simply called "hoarding" ?

Reply to xchrom (Original post)

Fri Apr 18, 2014, 08:32 AM

Apr 2014

Increases in average wealth does not mean that everyone has seen the increase.

Also, change in the hypothetical value of a home mean very little since most home-buyers are not selling and even if they are, banks own the majority of the equity. At last count 1/3 of all the mortgages in the country are higher than the homes are worth.

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Highlight:

Wealth Effect Failing to Move Wealthy to Spend [View all] xchrom Apr 2014 OP

How many houses or cars does a 1%er need anyway? Cirque du So-What Apr 2014 #1

At what point is it simply called "hoarding" ? KurtNYC Apr 2014 #2

Greedy AND hoarders. DISGUSTING! SammyWinstonJack Apr 2014 #3

The "wealth effect" is not necessarily tied to the 1%. mia Apr 2014 #4

I save as much as I can, too. LuvNewcastle Apr 2014 #5