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None of the replies really explain why you'd want a recession. If the value of my property plummeted too far and I was stuck with a massive mortgage, the first
by 2muchcoffeeman 10y ago
None of the replies really explain why you'd want a recession.
If the value of my property plummeted too far and I was stuck with a massive mortgage, the first thing I would do is stop any discretionary spending until I could figure out what the future looked like.
Imagine that happened to a lot of the middle class.
I agree that prices are too high, but I can't see anything good coming from a crash.
- tmnvix 10y ago> I agree that prices are too high, but I can't see anything good coming from a crash. Depends on your perspective. For many (possibly most) people, lower house prices are good.
- ZoeZoeBee 10y agoThe good would be a decrease in the number of persons forced to rent, rather than own. Among households headed by Australians aged under 35 an extraordinary 63.4 per cent rent.[http://www.smh.com.au/federal-politics/political-opinion/no-longer-a-nation-of-home-owners-now-were-renting-20151016-gkb7gr.html http://www.smh.com.au/federal-politics/political-opinion/no-...]