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I’m not commenting either way on who should own the housing stock. But whoever owns it, cost to live in it is strongly correlated with cost to buy it. So when p
by bradleyjg 7y ago
I’m not commenting either way on who should own the housing stock. But whoever owns it, cost to live in it is strongly correlated with cost to buy it. So when prices come down that’s a good thing, not a bad thing. Same as with food, clean water, clothing, and for that matter cell phones, TVs, and musical instruments.
- arcticbull 7y agoAgreed. My points are: (1) renting doesn't necessarily automatically have to put you at a disadvantage to owning (so long as you're investing what would have gone to principal) as there's a lot people forget to factor in. (2) house prices per square foot on average are the same now factoring in inflation as they were in 1970 and (3) house prices in major metros are governed not by anything other than artificial supply constraints imposed by city councils acting on behalf of landowners to the detriment of renters. They are unlikely to change substantially as a result of this financial ... hiccup.