I listened to your interview with Aaron Task today. While I can agree with your thesis, I did not care for the Love Canal-Detroit comment. Houses in the city of Detroit rarely go to $0 and certainly have some value to someone. This unfunny remark can probably be best summed up as racist or ignorant. I will assume the former.
Actually, its neither.
People have tried to take me to task whenever I differentiate between stocks and houses. The half joking quote is "The difference between stocks and houses is, outside of Love Canal & Detroit, houses don’t go to zero."
I’m sorry Nick, but unfortunately, this is not a joke: I first mentioned this back in February, when realtor.com had a huge run of houses for sale in the Detroit area for $100.
There are 182 Properties for sales for less than $1,000 on Realtor.com/search — and the asking price on some of those houses is one dollar:
Thanks for the suggestion Nick — I never would have thought of updating this if it wasn’t for you!
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.