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Housing has been captured by people seeking a return on capital. There needs to be a recognition that housing prices rising faster than inflation and wages is o
by LarryDarrell 7y ago
Housing has been captured by people seeking a return on capital. There needs to be a recognition that housing prices rising faster than inflation and wages is overall bad thing.
That owning a home is sometimes the only way for middle and lower classes to build wealth (and even then, only in a handful of markets) is an indictment of a economy that's not robust and not working for the majority of people.
However, there are too many people making too much money off of housing that I would expect things to change soon.
- ap3 7y agoAren’t your first two paragraphs a contradiction ? if housing prices don’t rise above inflation how do middle and lower class households build wealth? Historically, per Schiller, housing has tracked inflation in the US