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Originally Posted by punkworld
Don't forget that a small dip or even a mere stagnation in growth in the value of property has a much larger effect on the economy as a whole than virtually any other area of business, because it directly and extremely strongly influences consumer trust and consumer spending.
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That's true in terms of the effects on consumer confidence, but in terms of personal fortunes lost, the damage won't be as bad as the tech bubble losses in the stock market.