4 ms·
You jest, but the economic effects of all of this are severe. A total regression in the real-estate market (because stagnant demographics means the existing hou
by qubex 6y ago
You jest, but the economic effects of all of this are severe. A total regression in the real-estate market (because stagnant demographics means the existing housing stock will roughly suffice or even exceed demand) will have severe effects.
Basically the end to growing demand, and thus essentially an end to growth-orientated capitalism.
- jb775 6y agoMy long term prediction is that once the boomers start dying off in droves, we'll face a real estate crisis as their houses flood the market...and many less desirable neighborhoods throughout suburbia will turn into mini ghost towns.
- qubex 6y agoI come from northern Italy and during my relatively brief lifetime (length(life.qubex)>40) I’ve seen this happen to formerly exclusive “Beverly Hills”-type affluent residential areas (and un/gated communities). Enormous, cavernous hangar-sized homes that used to be worth millions of euros now struggling to sell for a couple hundred thousand.
- rwmj 6y agoYou're describing Japan, now. Large numbers of abandoned houses, towns in rural areas emptying out, and the process is accelerating. An interesting article: https://spikejapan.wordpress.com/2014/08/16/yubari-withering-into-truth/ https://spikejapan.wordpress.com/2014/08/16/yubari-withering...
- tingletech 6y agoI only half jest, but this demographic situation is one of the reasons I support liberal immigration policies.
- iso947 6y agoThat fails when every country has falling birth rates
- menybuvico 6y agoSwedish authorities did a study about this for that very reason. The conclusion was that it's unlikely that people will want to move halfway across the World only go get a job changing old peoples' diapers. Alas, the PDF seems to have been taken off-line.