>(2) people whose net worth is primarily derived from their house (read: poor people) If these people were smart, they'd realize that rising house values don't

>(2) people whose net worth is primarily derived from their house (read: poor people) If these people were smart, they'd realize that rising house values don't help them, because 1) they can't make money on a house they're still living in, they have to sell it first, and then where are they going to move to? and 2) rising house values means rising tax assessments which means their mortgage bill will increase to pay the higher property taxes.