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Aah, You Didn't Need A Mansion Anyway
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The collapse of the housing market also marked the end of the concept of buying up, the practice of trading upward, buying a modest house, selling it to buy a more elaborate house, and so on until you're in the Spelling Mansion. That was never realistic as a long-term play, but people did that until they ended up underwater in a house they couldn't really afford. Upward mobility has stopped in its tracks. If you don't like the house in which you live, well, sorry, but trading up isn't happening at the moment. (Los Angeles Times)
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