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A layman's question. Why is housing wealth considered not liquid? In 1995, I bought a house in Melbourne for 150,000 Australian dollars with a ten percent deposit. Since then prices have been going up and it is now worth over a million dollars. Over years I have borrowed various amounts of money to fund business for a family member or houses for children from amounts varying between hundred to over two hundred thousand. I think that I can borrow over three hundred thousand and invest in stocks if I want though I never did that.
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May 6, 2010