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> I also expected, as a result, a correction in the price of housing to actually realistic levels. Housing prices were realistic. We know this because most of
by samlevine 9y ago
> I also expected, as a result, a correction in the price of housing to actually realistic levels.
Housing prices were realistic. We know this because most of the Anglophone world has had similar experiences with housing prices without the "bubble" bursting, and because prices have gone back to where we started back before everything blew up.
There were bad loans, and financial products that were fraudulently repackaging them. Regulators were asleep at the wheel. And the government has played a huge part in getting housing prices to high levels. But the value of the homes themselves was and is clearly real because people remain willing to pay for them.
- jazzyk 9y agoOK, let's take Canada: You call house prices 6-10 times [1] the family annual income reasonable? What planet are you from? [1] In areas where people actually want to live in Canada, like B.C. or Ontario https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/the-great-toronto-disconnect-house-prices-and-incomes/article34623683/ https://www.theglobeandmail.com/globe-investor/personal-fina...
- maxxxxx 9y agoThe prices are realistic in terms of supply and demand. Too many people with a lot of money having nothing better to do than buying and selling houses. Reasonable? No, especially for the little guy. Healthy for society? Absolutely not.