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The New DU. Reply #7: A lot of that $295 Trillion is in foreclosure
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golfguru
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Mon Nov-14-11 03:34 AM
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| 7. A lot of that $295 Trillion is in foreclosure |
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The biggest asset of Americans is their homes. A house is not really worth what the assessor says it is, the real value of any house is what it can sell for. My house was assessed for $270k at one point but we sold it for $210k. And ours was the only house sold in our subdivision in the last 6 months while there are a dozen for sale. No one knows what their selling price is. So how can any one come up with a fictitious number like that $295 Trillion? Wealth is not static. It is dynamic.
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