We saw last time that there’s no political appetite to allow home prices to ever fall on a nominal basis. The politicians went about inflating a new, even larger, bubble ASAP.
Why do you expect this time to be different?
Why do you expect this time to be different?
I guess it's a race between "rent-seeking folks who own investment properties" and "people who actually want to live and work in a community." Should be an interesting battle -- while the rent-seekers surely have the most lobbying power, literally everyone needs a home.
There's room to squeeze people a lot further than they're already squeezed.
You should consider a career writing dystopian science fiction. This is pretty brilliant material.
I suspect people who actually live in homes aren't as attached to rising house prices as politicians think. Personally I'd happily buy a house for $500,000 and drop the price to near-zero if it meant I didn't have to pay $10,000 a year in property taxes. At some point it's not about "building equity," it's about having a place to live that you control, where the rent won't skyrocket 20% per year, where you can raise a family or own a dog or install a patio or whatever.