[FoRK] Re: FoRK Digest, Vol 49, Issue 21

[Dave Long]

> have the prices really went down 12% ?

It depends with what currency one is buying US real estate.  Keeping  
in line with the theory that it's far more palatable politically to  
let the dollar decline than housing decline: even if the numerator  
remains the same, the "price" of a US house in EUR, or barrels of  
oil, or kg of Pt, has easily gone down by at least 12%, even if the  
"price" in USD may have increased.

My current question: what fraction of US net worth is based on real  
estate?  The household net worth figures have gone up from 40T to 60T  
over the last few years; does this increase reflect the slide of the  
dollar against valuable assets, or simply against real assets?

-Dave