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The direct beneficiaries are American homeowners, who get higher prices for overvalued assets and financial institutions holding housing as collateral. The lose
by trevelyan 15y ago
The direct beneficiaries are American homeowners, who get higher prices for overvalued assets and financial institutions holding housing as collateral. The losers are lower-income Americans (often also recent immigrants) for whom the cost of housing remains out of reach.
- abbasmehdi 15y agoExcellent conclusion, David. I have seen this play out in vancouver, british columbia. Look it up.