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Comment by llmslave | Hacker News Reader

a sound response to some of the worst fed decision making in US history. they essentially ruined the housing market, priced out a generation of younger buyers, which is now crushing fertility rates, savings, and more

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Strict zoning ruined the housing market, and this is a multigenerational problem:

https://www.sciencedirect.com/science/article/abs/pii/S00941...

Investment real estate ruined the housing market. All of a sudden housing prices are expected to grow year over year as an investment. As more and more growth expectations were applied to housing, public policy (including zoning) changed to protect those expectations. Is it any surprise that there came a point at which it became too expensive?

Once problem we need to solve is how to unwind housing prices without financially ruining honeowners whose house is their primary/only wealth. Of course this problem is even more severe in areas of the country that are becoming uninhabitable due to changes in climate as it drives down demand.

* fertility rates have been dropping for a long time. While this article is focused on "it's not about the teens", it isn't tied to housing, or after covid: https://ifstudies.org/blog/the-us-fertility-decline-is-not-d...

* housing market was already quite bad before covid (see sibling comment)

* Savings rates have hovered around 5% for almost 25+ years - https://fred.stlouisfed.org/series/PSAVERT

Was it them that did that or employers freezing wages and losing R&D credits/facing tarrifs / wild instability?

Well, seeing is how that happened before the tariffs, yeah, I'd have to agree with GP.

It's almost like pandemics have consequences.

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