Quote:
Originally Posted by you&me
... And housing price don't.
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Absolutely, the whole thing falls apart if house prices drop. But, other than localized factors like company towns drying up after the plant closes, generally house prices everywhere else have gone up. And far quicker than salaries have gone up. Lots of people feel like if they don't get on the treadmill now, they'll never be able to get on it at all.
It's almost certainly foolish to think it'll keep going up in perpetuity, but anecdotally for myself my house's value has gone up about 45% in eight years. My income hasn't.