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You are correct, it is for the time being politically untenable to allow housing (really land) to reduce in value. The situation might change when the millenial
by PoachedSausage 9y ago
You are correct, it is for the time being politically untenable to allow housing (really land) to reduce in value.
The situation might change when the millenials and younger generations start becoming more politically active.
- maxxxxx 9y agoAs soon as they start inheriting houses they will also be against lower housing prices.
- perfmode 9y agothis is not a reality for the majority.
- PoachedSausage 9y agoI probably just about count as a millenial, my parents could live another 20 - 30 years and that house might have to be sold to pay their hospice care should they get dementia. So the house likely isn't going to be much use to me.
- noonespecial 9y ago>that house might have to be sold to pay their hospice care I suspect this is the great Faustian bargain of the boomer generation. All the wealth that they helped themselves to in lieu of fixing the big systemic problems in economy and government will be traded away in the end for the modicum of comfort in their twilight years that a better functioning system would have provided anyway.
- dmix 9y ago> The situation might change when the millenials and younger generations start becoming more politically active. Yes, the self-serving regulatory system that was repeatedly taken advantage of to benefit a small group of property owners in previous generations will be solved by the next generation who will inherit or earn properties of their own... /s When power repeatedly corrupts those whose define the rules then maybe the solution is stop stop giving them power? Or at a minimum limit their power...instead of handing it to the next guy with no changes and expecting different results.