The real housing crisis is one of quantity - Page 2

>
>
>
>>The key to understanding the housing bubble is understanding what drives up
>>land prices. The OP is correct in saying that new construction was over
>>done. The reason is rising land value, but why did land values double and
>>redouble since the 1980's?...
>
>
> The Shiller home price index shows home prices in the 20 major urban
> areas rose a real 21% during the 15 years 1987-2002 -- a tad more than
> 1% a year.
>
> So much for "double and double again".
>
> This is entirely consistent with Shiller's data showing home price
> appreciation barely exceeding inflation, appreciating by about 0.5%
> real per year, for the last century.
>
> Which is entirely consistent with USDA/NASS price index of all
> farmland in the US, which shows land prices across the great bulk of
> the US barely matching inflation, appreciating by about 0.5% real per
> year, for the last century.
>
> These indices show land value hasn't doubled even once in the last 100
> years, much less gone "double and double again" since the 1980s.
>
> Georgists. ;-)
>
> There's their world and there's ours.

>
> Put your money in land, then do nothing as a landowner but wait for it
> to appreciate in value ... and die broke. ;-(
>
> As to the home price boom, it has been *world wide* -- Britain,
> France, Spain, Australia, New Zealand, China, all around the globe,
> and in several foreign nations it's been much *bigger* than in the US
> -- and it has all happened everywhere simultaneously in the last six
> years.
>
> So a different explanation is called for, other than repitition of ye
> olde fact-free Georgist creed.

>>The key to understanding the housing bubble is understanding what drives up
>>land prices. The OP is correct in saying that new construction was over
>>done. The reason is rising land value, but why did land values double and
>>redouble since the 1980's?...
>The Shiller home price index shows home prices in the 20 major urban
>areas rose a real 21% during the 15 years 1987-2002 -- a tad more than
>1% a year.
>So much for "double and double again".
>This is entirely consistent with Shiller's data showing home price
>appreciation barely exceeding inflation, appreciating by about 0.5%
>real per year, for the last century.

>Which is entirely consistent with USDA/NASS price index of all
>farmland in the US, which shows land prices across the great bulk of
>the US barely matching inflation, appreciating by about 0.5% real per
>year, for the last century.
>These indices show land value hasn't doubled even once in the last 100
>years, much less gone "double and double again" since the 1980s.
>Georgists. ;-)

>There's their world and there's ours.
>Put your money in land, then do nothing as a landowner but wait for it
>to appreciate in value ... and die broke. ;-(

>As to the home price boom, it has been *world wide* -- Britain,
>France, Spain, Australia, New Zealand, China, all around the globe,
>and in several foreign nations it's been much *bigger* than in the US
>-- and it has all happened everywhere simultaneously in the last six
>years.

>So a different explanation is called for, other than repitition of ye
>olde fact-free Georgist creed.

> The REAL housing crisis is that TOO MANY of them are being built every
> day, bad mortgages or not. Mindless overpopulation (75 million
> annually, worldwide) is treated as natural. Nature is treated as
> expendable.
> People go about their business, talking about money and investments,
> as if the land itself is infinite. They always claim there's "plenty
> of land" but won't say relative to what. Unaffected acreage decreases
> literally each second.
> http://images.google.com/images?hl=3Den&q=3Dhuman+footprint+map
> "Economic growth" means more people and less nature each day, with
> money creating a false measure of value in the process. A true housing
> "bubble" is an entire round hill covered with them.
> Real estate developers use money made from cannibalized land to
> cannibalize even more land. The word FINITE is missing from too many
> vocabularies.
> E.A.
> http://enough_already.tripod.com/
> Housing starts are a leading indicator of mindless growth.

> The REAL housing crisis is that TOO MANY of them are being built every
> day, bad mortgages or not. Mindless overpopulation (75 million
> annually, worldwide) is treated as natural. Nature is treated as
> expendable.
> People go about their business, talking about money and investments,
> as if the land itself is infinite. They always claim there's "plenty
> of land" but won't say relative to what. Unaffected acreage decreases
> literally each second.
> http://images.google.com/images?hl=en&q=human+footprint+map
> "Economic growth" means more people and less nature each day, with
> money creating a false measure of value in the process. A true housing
> "bubble" is an entire round hill covered with them.
> Real estate developers use money made from cannibalized land to
> cannibalize even more land. The word FINITE is missing from too many
> vocabularies.
> E.A.
> http://enough_already.tripod.com/
> Housing starts are a leading indicator of mindless growth.

On Apr 19, 10:05=A0pm, "Dioclese" <NONE> wrote:
> > The REAL housing crisis is that TOO MANY of them are being built every
> > day, bad mortgages or not. Mindless overpopulation (75 million
> > annually, worldwide) is treated as natural. Nature is treated as
> > expendable.
> > People go about their business, talking about money and investments,
> > as if the land itself is infinite. They always claim there's "plenty
> > of land" but won't say relative to what. Unaffected acreage decreases
> > literally each second.
> >http://images.google.com/images?hl=3Den&q=3Dhuman+footprint+map
> > "Economic growth" means more people and less nature each day, with
> > money creating a false measure of value in the process. A true housing
> > "bubble" is an entire round hill covered with them.
> > Real estate developers use money made from cannibalized land to
> > cannibalize even more land. The word FINITE is missing from too many
> > vocabularies.
> > E.A.
> >http://enough_already.tripod.com/
> > Housing starts are a leading indicator of mindless growth.
> I like the thread so far. =A0Only one stayed in the context you presented.=
> The other 2 went with the money synopsis thing, went somewhere else instea=
> of addressing the issues you presented. =A0Kinda like politics.
> See if I can even it out 50/50 for now (most won't address overpopulation
> anyway, so its for now).
> All our big problems are a of an ever increasing population nature. =A0Bot=
> nationwide and world-wide. =A0The economy relies on a contigent of an ever=
> increasing population as starters. =A0As population slows, the only
> alternative is to take more from the current population. =A0As the finite =
> understood. =A0Either way, we pay.
> --
> Dave
> Hypocrisy. =A0Big SUV, filament lights on all night. =A0You think your nei=

> should be changiing to compact fluorescent light bulbs and driving the
> hybrid.- Hide quoted text -
> - Show quoted text -