[MCN] Market forces punishing proliferation of luxury homes

[Lance Olsen]

http://blogs.barrons.com/penta/2015/07/10/second-home-hotspots-bargains/?mod=BOLBlog

and this:

"Consumer expectations of ever-higher living 
standards were fuelled by more lenient and 
readily available bank lending, the subsequent 
booms in construction and property market 
sectors, .... Social status and identity became 
closely associated with consumption, in 
particular with the concept of luxury. 
Identifying oneself with the good life meant 
being able to live beyond traditional 
understandings of basic needs. Debt was the price 
one paid for the joys of being part of a 
hedonistic consumer culture."

Kenneth Dyson.The Morality of Debt.
Foreign Affairs. May 3, 2015

https://www.foreignaffairs.com/articles/2015-05-03/morality-debt

===================================
"Š the serious meaning in a concept lies in the
difference it will make to someone if it is true."

William James (1842 -1910)
Pragmatism. Meridian Books, 1955

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