Wednesday, October 21, 2009

Another Angle on the Housing Crisis

Russ Roberts made an interesting remark in a podcast I recently listened to, in which he was talking with Robert Shiller of Yale University and the well-known Case-Shiller Home-Price Index.

He stated that one of the often overlooked benefits received by the droves of consumers who over-bought houses and helped carry the economy into crisis, was the fact that they got to (and in many cases still do) enjoy being able to live in a bigger, nicer home than they otherwise would have.

It's worth thinking about. In the end, it may not work out so well for everyone. But what about all the time spent enjoying the lifestyle?