"In the face of the things like the , the scare, the , and other disasters that eroded the notional value of financial paper, homeownership itself was now turned into a magical generator of unearned riches for both borrowers and lenders. It was consistent with the Las Vegas-ization of the national moral sense, chiefly the increasingly popular belief at every level of American life that it really was possible to get something for nothing. Anyone could see this in the easy public acceptance of gambling as okay and the proliferation of casinos everywhere in the land. Not even the evangelical Christians seemed to mind. There is no such thing as intrinsic value in a house. A huge percentage of the public has now put its net worth into something that… isn't an investment. Apart from false econometrics of rising house valuations and the leverage that affords for raising cash within the context of the current lending rackets, a house is much more of a consumer product than an investment, especially the kind of houses built in recent decades in America, namely stapled-together boxes made of particle board and plastic cladding that require continual reinvestment in petty cash and labor for upkeep, and will probably not hold their value, even if well cared for, because of poor locational choices. A house on a one-acre lot in a subdivision in , thirty-two miles from downtown Washington, […] a magnificent thing to behold today, with a soaring lawyer foyer entrance, a restaurant-grade kitchen, and an inground pool out back. But if there is less gasoline to power up the fleet of cars necessary to service it, and no natural gas to heat the thousand-square-foot cathedral-ceilinged lawyer foyer, then chances are that the house is going to be a liability rather than an asset."