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This is all about the continued rise of the housing market. It's the opposite of bleak.
by 794CD01 9y ago
This is all about the continued rise of the housing market. It's the opposite of bleak.
- CydeWeys 9y agoHousing markets like this are bad for people and bad for the economy. It is bleak. There is no actual value being created when home prices skyrocket; it means that supply is severely restricted, and it prevents efficient location of people near their jobs.
- slowmovintarget 9y agoIt also destroys disposable income and savings potential, thus reducing overall quality-of-life.
- kazinator 9y agoHowever, there is a bit of a problem problem when people like, say, teachers, police officers, firefighters and can't afford to live anywhere near an entire big urban area which needs them. Rich people depend on non-rich people to do things like stock groceries on store shelves, teach their kids, police the streets (protecting all those riches), put out the fires (protecting all those riches) etc.