From: Michael M. Butler (butler@comp-lib.org)
Date: Wed May 29 2002 - 11:18:04 MDT
> maybe there is some non-monetised dynamic that is reflected in lack of response to certain price > signals.
Oh, absolutely. "Man is the rational_izing_ animal." The madness of crowds,
popular delusions.
I think there's a gregariousness and a desire to be in the thick of some sort
of swarm, leading to two loci, one the "downtown/uptown" gentrification of
whatever the "hip" core urban area is, the other being the ring-city effect of
'burbification.
As fare as money itself goes, "Buy cheap, sell dear" is in many peoples'
minds, and "Get in while you still can" is on many more. One more aspect of
the old "rat race" model.
"They aren't making any more of it", as the old saw about real estate goes.
Paging Gerard K. O'Neill--we need to change that.
Or a thinning of the herd, Black Death style, would free up a lot of property,
just as it did back then. Chernobyl/Beirut on the installment plan?
A prominent alternative might be a large strain in the relatively healthy but
frustrated and increasingly-aged booshwah baby bulge as real estate
expectations diminish--forcing a strained redefinition of "Quality of Life"...
But when you squeeze a balloon hard enough, a bulge appears above *and* below.
--
butler a t comp - lib . o r g
I am not here to have an argument. I am here as part of a civilization.
Sometimes I forget.
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