Lazy Money

January 30, 2006 Economics, Historic Districts Comments (0) 1413

My student Dorothy Bobco wrote me a marvelous note the other day about “lazy money”. Here is a quote:

“I think I have figured out why people get so upset when they think their property values are going down. They are losing free money, lazy money. You can buy a house and do nothing and the value will probably go up. If anything happens that changes that, they lose money that they did not have to work for. That is what makes them mad, losing money they did not have to work for. It is laziness and greed that drives the real estate market. ” Continue Reading

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