The Housing Market

Mother of tdaxp has long insisted that the Great Depression worked a great deed that is often not appreciated: it broke up many of the landed estates that had developed by the 1930s, making land cheap and allowing a new generation of farmers to till the land.  Thus, one of the effects of the Dust Bowl in the 1930s American midwest was a great transfer of wealth from the richer to the poorer.

We’re seeing some of the same dynamics as a result of the Subprime Crisis, and two friends of tdaxp are cashing in!

Now employed at a leading logistics firm, they recently purchased a house.  I took greta pleasure in helping them mow and fertilize their yard, and we took a trip to Pier 1 to buy a chair to help furnish the main room.  The house is all-together beautiful, though it stood empty for a year.

We brought some food and a dining set as a housewarming gift.  No longer apartment-bound, they gave us a very nice low-table that been been gifted around our circle of friends.

Still, a house is not all fun and games.  The recent hailstorm killed a number of plants, and as like a shotgun to some of the shutters.  A lot of work lays ahead.

To end the day we ate Mongolian and (American) Chinese food, topped off Tsingtao Beer and Mountain Dew.

3 thoughts on “The Housing Market”

  1. Ah, a great example of what I was just discussing yesterday. Low housing prices are bad for those looking to sell, but great for those looking to buy.

  2. “Mother of tdaxp has long insisted that the Great Depression worked a great deed that is often not appreciated: it broke up many of the landed estates that had developed by the 1930s, making land cheap and allowing a new generation of farmers to till the land. Thus, one of the effects of the Dust Bowl in the 1930s American midwest was a great transfer of wealth from the richer to the poorer.”

    I had never heard of that before. That’s a really great story worth reading about (will have to find a book or two about it hopefully) and I wonder if it has been replicated in some fashion at all in other countries. (aside from the Black Death in England especially providing surviving peasants with ample opportunity to exploit their talents and worth).

  3. Adam,

    Excellent point!

    Eddie,

    Most “social historians” are more interested in fighting oppression inherent in the system (blah blah blah), but there may be an economic study of it available. I don’t know.

    My grandfather purchased his farm at around that time, from a speculator. Someone else couldn’t make a hack of it. Because Pelosi wasn’t in power at the time, my grandfather had a chance to… and he did.

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