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Would a crash of the housing market be unwelcome? The people that lose in such a crash are property developers, landlords, and home-owners that planned to sell
by abeppu 8y ago
Would a crash of the housing market be unwelcome?
The people that lose in such a crash are property developers, landlords, and home-owners that planned to sell and buy in another region.
The people that benefit in such a crash include people who currently can't afford to live here, renters that currently can't afford to buy here, renters who currently have too many roommates, renters who can't afford to leave their rent-controlled unit, people who could buy a larger or nicer place, businesses where people spend the portion of their income which no longer goes to housing, businesses that can hire into the region more easily, and everyone who enjoys a community with a more diverse range of residents.
You take it as a given that a crash associated with actually affordable housing would be unwelcome. I think it should only be unwelcome to those who see the housing supply as an investment vehicle, rather than as housing. To those who just want to live here, or live here more comfortably, a crash might be very welcome indeed.
- deleted 8y ago[deleted]