June 15, 2005

Do You Live in a Golden Jail?

Thanks to DadTalk for bringing to our attention the phrase "Golden Jail" which refers to the problem of people who own a home and have lots of equity, but they can't afford to move up to a bigger/nicer house. Maybe America won't quite follow the path of Japan. Rather than having real estate prices collapse, maybe we'll just ossify in place, being stuck in whatever house we currently own, with no one able to buy up and no one willing to sell for lower prices. Only time will tell.

Posted by Tom Nugent at June 15, 2005 10:38 AM
Comments

Thanks for the link!

Our house is more disintegrating that ossifying!

Posted by: brettdl at June 17, 2005 12:20 PM
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