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Housing Bubble Week Epilogue: Not All Bubbles Are Created Equal - Vernon Smith
The Joe Walker Podcast
The Importance of Balance Sheets in Home Ownership
With housing, the value comes down against fixed long term debt. The asset even takes a while to flatten. Home ownership is the primary source of wealth for most people. And stocks is a very minor part of it. So it's the volatility there in the stock market does a whole lot less damage.
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