As economist Michael Hudson explains, banks will lends as much as they are able to, and that pushes property prices up. They're now 40-50% of income in places l

As economist Michael Hudson explains, banks will lends as much as they are able to, and that pushes property prices up. They're now 40-50% of income in places like San Francisco and New York. Paying more for housing means less for other expenses, so it's a net drain on the economy. If we can lower costs to people the economy could be more competitive.