Is housing a luxury or a staple?
How you view homes – as a luxury good or a staple – should affect your perception of where where you think
the housing market is heading, according to an interesting New York Times article. According to the story, if you believe housing resembles a luxury good, then you’ll think house prices will rise nearly as fast as incomes in the long run and that houses aren’t much overvalued. If housing is a staple, though, prices will rise more slowly.










