4 ms·

Equities have been decimated. The housing market is starting to look like it's next. There is nowhere to hide right now.

swagasaurus-rex 4y ago
Thank god?
- xdennis 4y ago
  For which part?
  - _carbyau_ 4y ago
    For a lot of people, both! There are lots of people with zero shares and a simple dream to own their home. This is looking hopeful for many.
    - dnissley 4y ago
      This is zero sum thinking -- however many people this helps, it will take just that many getting hurt in order for it to happen. Doesn't solve the root of the problem in the least, it's just a wealth transfer.
      - _carbyau_ 4y ago
        Yup. But how many of the people who might be able to afford a home if it comes down 20% will care about the others. This is what a market does. Risks are taken and the result is that some will lose out. People are not guaranteed profits. Until you are a corporation with enough influence in government it seems...
      - yellowapple 4y ago
        > however many people this helps, it will take just that many getting hurt in order for it to happen This presumes that the number of people this helps is equal to the number of people this hurts. That's unlikely, given how wealth concentration tends to work in capitalist economies (that of the US included). But yes, we need to address the root of the problem - the root of the problem (as applied to housing) being the fact that land is treated as ownable property in the first place. That's fine and dandy, but that produces rather nasty externalities that are long overdue to be internalized - specifically, via land value taxation.
andsoitis 4y ago
"You only find out who is swimming naked when the tide goes out."
r00fus 4y ago
Just a nitpick but s/decimated/devastated/ Decimated means 10% death rate (usually as an brutal lesson). Did stocks lose 10% or did 10% of stocks just get liquidated?
- justin_oaks 4y ago
  Just a nitpick but you're making an etymological fallacy. https://en.m.wikipedia.org/wiki/Etymological_fallacy https://en.m.wikipedia.org/wiki/Etymological_fallacy The word "decimate" is explicitly mentioned in the article above.

swagasaurus-rex 4y ago

Thank god?

xdennis 4y ago
For which part?
- _carbyau_ 4y ago
  For a lot of people, both! There are lots of people with zero shares and a simple dream to own their home. This is looking hopeful for many.
  - dnissley 4y ago
    This is zero sum thinking -- however many people this helps, it will take just that many getting hurt in order for it to happen. Doesn't solve the root of the problem in the least, it's just a wealth transfer.
    - _carbyau_ 4y ago
      Yup. But how many of the people who might be able to afford a home if it comes down 20% will care about the others. This is what a market does. Risks are taken and the result is that some will lose out. People are not guaranteed profits. Until you are a corporation with enough influence in government it seems...
    - yellowapple 4y ago
      > however many people this helps, it will take just that many getting hurt in order for it to happen This presumes that the number of people this helps is equal to the number of people this hurts. That's unlikely, given how wealth concentration tends to work in capitalist economies (that of the US included). But yes, we need to address the root of the problem - the root of the problem (as applied to housing) being the fact that land is treated as ownable property in the first place. That's fine and dandy, but that produces rather nasty externalities that are long overdue to be internalized - specifically, via land value taxation.

andsoitis 4y ago

"You only find out who is swimming naked when the tide goes out."

r00fus 4y ago

Just a nitpick but s/decimated/devastated/ Decimated means 10% death rate (usually as an brutal lesson). Did stocks lose 10% or did 10% of stocks just get liquidated?

justin_oaks 4y ago
Just a nitpick but you're making an etymological fallacy. https://en.m.wikipedia.org/wiki/Etymological_fallacy https://en.m.wikipedia.org/wiki/Etymological_fallacy The word "decimate" is explicitly mentioned in the article above.