Steveoh

Today's Negative-Equity Update

Equity is a myth, sold to homeowners by those that would indebt them. The only way to realize equity as profit, is to part with the asset in a sale at a price point above the purchase price (less cost of transaction.) If equity is anything real, it is merely potential profit. Anything else is just more indebtedness or a scheme to part a greater fool and his money.

By the way, another concept that everyone probably knows but that many are currently ignoring is that: something is only worth what someone else will pay for it; not what you wish it to be worth. If nobody wants what you are trying to sell, then it's worth exactly nothing in that market.

It would seem that our banking system is currently relearning this concept and trying like hell to keep everyone distracted from it.