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>By 'crashing down' I mean a stiff housing price correction. I don't see how that's a problem, in fact it sounds like a solution. I'm certainly not going to c
by magduf 7y ago
>By 'crashing down' I mean a stiff housing price correction.
I don't see how that's a problem, in fact it sounds like a solution. I'm certainly not going to cry over a bunch of rich people losing their shirts on overpriced real estate.
- KptMarchewa 7y agoThe problem is that many people can't afford to live there in the period of bubble.
- magduf 7y agoRight, nor should they. They should go where they can afford to live. If that means the Bay Area has no more restaurants, gas stations, garbage pickup, schools, etc., that's fine.
- village-idiot 7y agoI wouldn’t, but given the political power of the home owning class I really fear what corrective measures the government would take to stop a correction.
- jjeaff 7y agoIt's not just rich people. It's people who have spent every bit of disposable income they have on keeping their mortgage paid up. That includes not investing into retirement funds. They are counting on their house being the retirement fund. When the housing market collapses, there are going to be a lot of people left holding the bag.