QUOTE (WVDragonlady @ Sep 14 2005, 02:47 PM)
wtf's a passbook savings interest rate thingy!???? STOP TALKING IN A FOREIGN LANGUAGE!
I didn't say that shortage
wouldn't make a price go up hun.I just think that people are taking advantage of all the "shortages" and "gas prices". It's greed IMO. Thats all.
If you go to the bank and say you want to open a "regular" savings account, that's a passbook savings account. Whatever interest rate the bank pays for your savings account is what I meant.
Lets' pretend you wanted to sell your house. So, say you bought your house in 2000 for $150,000 and the passbook interest rates for each year from 2000 to 2005 were, on average 5% (it was probably less). I'd pay you the $150,000 you paid plus interest at 5%, and even give you a $2000 premium so you could take a nice vacation.
Would you sell me your house for that amount, or would you instead sell it for what the appraisal was or what you could get as the highest offer from all interested buyers? In reality, your house probably doubled in value over that time due to "shortages" based on supply and demand. By your logic, selling at that fair market price is "greed".