Why is the Luxury Home market thriving?
diceman asked:
Could it be what Warren Buffet says is true-that the top five percent in our country is doing better than ever-and that the disparity between the rich and poor is greater than at any time since the Great Depression…..
Kyle
Could it be what Warren Buffet says is true-that the top five percent in our country is doing better than ever-and that the disparity between the rich and poor is greater than at any time since the Great Depression…..
Kyle
February 5th, 2008 at 4:13 am
Because there are always rich people…..no matter how the economy is doing…..
February 8th, 2008 at 4:07 am
That is pretty accurate.
In addition, I would probably add that a lot of people who couldn’t actually afford luxury homes were over-leveraging themselves in order to purchase them.
After they were evicted, the rich stepped in and bought them at a fraction of the original price.
February 10th, 2008 at 10:20 pm
No. The wealthy have always fared better in good times and bad. Because they’re wealthy! That’s why everyone want to be wealthy because life is better when you’re wealthy.
February 11th, 2008 at 11:52 am
The economic return to education, skill, hard work and risk taking is higher than ever. That’s why the rich get richer, same as always.
There’s nothing you can do about it. The rich pay all the income taxes, so if you redistribute through the tax system the economy will simply tank, hurting the little guy.
If you really care about the lower half, I’d advise you tell them to get on their horse and get competitive. There’s no other way.
If you REALLY care about them, that is. Instead of just wanting to carp about the rish.
February 12th, 2008 at 10:30 pm
SUB-PRIME mortgages is the reason most people lost their homes.
rich people did not have to get a sub-prime loan and they are still doing good.
when someone buys a house at 13/14 % interest or more,they are not using their head.
and if they get an A.R.M. that could be even worse.
some of these loan companies that let people buy houses because they had a large down payment,and low credit rating should be fined,and forced out of business.
that is a bad business practice period.