cheaper housing on the way, page-33

re: ** alan cheaper housing on the way Alan,

I'm sorry I didn't answer immediately I had a little dog called Stocko yapping at me.

If a family cannot pay the housing payments as happened when the int rates went as high as 17% at one stage then they sell up or the bank mortgages the property.

Those people usually move to rental accomodation somewhere which comsumes another home, unless some people share with other families but I would guess this would only be temporary for most people.

The fact remains that it is a zero sum game. Whilst I will acknowledge there are short periods of time (maybe a year or less) where abnormal events drive down prices in some locations I have been very careful to say that certain segments of the market suffer whilst others do not, some actually benefit from hard times.

There's so much more to say but I'll add that in later posts.

- Z