[jmaroneps37]

“The “trillions of dollars of lost home value” was Monopoly money created by a massively over pumped housing bubble.

There was no more “value” there than there was in the tens of millions lost when Pets.com and eToys went belly up.”

Gee I’m sooooo glad you explained that for me. I was under the mistaken impression that real people lost real money and are now suffering real pain. Silly me, I should have known that when people sold their homes they would be laughed at and given Monopoly money. Thanks for the heads up.

[Notary Sojac]

What they lost was home "equity" valued under the assumption that there would be bigger fools coming along to pay ever more inflated housing prices, and still bigger fools willing to write mortgages for the purchase.

Money that you thought you had in 2005 because your house was "worth" X dollars turned out to be a mythological construct.

So I take back my comment equating house values to Monopoly money. Monopoly money has useful purposes. You can use the back of it for a shopping list, or to jot down a phone number, or use it as tinder to start a fire.

[Lurker]

I was under the mistaken impression that real people lost real money and are now suffering real pain.

Stupid is supposed to hurt.

L