3 ms·
It used to be understood that homes were places for people to live in. They were pretty much hands-off. About 30 years ago, late-night cable-TV advertising star
by 8bitsrule 5y ago
It used to be understood that homes were places for people to live in. They were pretty much hands-off. About 30 years ago, late-night cable-TV advertising started encouraging people to buy another home to flip or rent.
IMO that started the ball rolling; houses started to be seen as gambling chips for investors with TMM, not homes. (See:Vancouver) That led to high-leveraging credit-default-swaps, then the Great Recession. Noone went to jail. No reset. Game over for most of us.