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It's easy to be blinded and think a 30% crash is huge, but in reality it only amounts to rolling back the clock a few years. If property wasn't affordable (by
by anotherhue 6y ago
It's easy to be blinded and think a 30% crash is huge, but in reality it only amounts to rolling back the clock a few years.
If property wasn't affordable (by whatever definition you choose) a few years ago, then it still won't be.
The interplay of interest rates, QE, life extension, centralisation, and property value amount to generational warfare.
- xwdv 6y agoYup. A 70% crash will be huge, this is nothing.
- mabbo 6y agoMy condo's value has gone up by 58% since I bought it 6 years ago (compared to the sale prices of the same unit on lower floors). A 30% crash would be good news.
- TuringNYC 6y ago>> amount to generational warfare This is such a great comment. It is partly generational warfare, partly class warfare, and partly institutional-vs-retail warfare. Now matter how you look at it though, there are winner and losers and policy-makers have chosen those winners and losers by way of policy. Unfortunately, this is easy which is why it is done -- people feel pain but the network of cause-and-effect is too complex for people to put a finger on the root cause.