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I think it's a a convenient accident more than an intentional outcome, but one that established homeowners and assetholders benefit from so it's encouraged. If

I think it's a a convenient accident more than an intentional outcome, but one that established homeowners and assetholders benefit from so it's encouraged. If nothing else, can you actually imagine a politician celebrating houses going down in price? Picture yourself walking up to a podium and announcing that the average 3 bed 2 bath in San Jose is now only $200,000, and what a fantastic achievement this is and how it will help people who have struggled to afford a home. What reaction do you get? Homeowners would be crying for blood because, whether they care to admit it or not, when it comes time to sell they want 2+ other people working their asses off and saving every penny they can to just _barely_ be able to put in a bid. I _am_ a homeowner, albeit of a cheap house, but I'd love to see prices fall because I wouldn't mind a second one. A spot on a couple acres near Portland might be nice, and some of them don't look too bad...

chadcmulligan 6y ago
> If nothing else, can you actually imagine a politician celebrating houses going down in price This is a big part of the problem imho - its a treadmill that you can't get off. With an ageing population that all own houses and getting generally more conservative, I can't see it changing any time soon. It strikes me as odd that everything is getting cheaper except houses - and you may say its land, but if thats the case apartments should be getting cheaper.
- CalRobert 6y ago
  everything else getting cheaper is part of _why_ houses are getting more expensive. The savings get poured in to outbidding each other.
  - chadcmulligan 6y ago
    Thats an interesting thought.
    - CalRobert 6y ago
      Googler couple: "if we go for the cheap Tesla we can bid 3.1 instead of 3.2" Facebook couple: "If we go for the cheap round-the-world holiday we can bid 3.3 instead of 3.2" and on it goes.

chadcmulligan 6y ago

> If nothing else, can you actually imagine a politician celebrating houses going down in price This is a big part of the problem imho - its a treadmill that you can't get off. With an ageing population that all own houses and getting generally more conservative, I can't see it changing any time soon. It strikes me as odd that everything is getting cheaper except houses - and you may say its land, but if thats the case apartments should be getting cheaper.

CalRobert 6y ago
everything else getting cheaper is part of _why_ houses are getting more expensive. The savings get poured in to outbidding each other.
- chadcmulligan 6y ago
  Thats an interesting thought.
  - CalRobert 6y ago
    Googler couple: "if we go for the cheap Tesla we can bid 3.1 instead of 3.2" Facebook couple: "If we go for the cheap round-the-world holiday we can bid 3.3 instead of 3.2" and on it goes.