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While you're right in part, I think you're missing how today everyone want to move in only a few cities and small town economies are dying in many countries. T
by mihaic 4y ago
While you're right in part, I think you're missing how today everyone want to move in only a few cities and small town economies are dying in many countries.
This doesn't address in this global ponzi scheme how banks are fueling the competition between home buyers by dumping toxic credit, and how wage stagnation makes it impossible to escape this trap.
No solution is possible that doesn't wipe hundreds of billions of asset value from banks and homeowners, and we need to accept that.
- twblalock 4y ago> While you're right in part, I think you're missing how today everyone want to move in only a few cities and small town economies are dying in many countries. That's not really new. The big cities in the United States grew dramatically during the 20th century, at rates far higher than they are growing today: For example, a hundred years ago cities like Detroit, NYC, Chicago, San Francisco, Los Angeles etc. were growing far faster than they are today.
- mihaic 4y agoYes, the big difference is in the decay of small towns. There are far fewer middle class jobs than before, what can you really make in small towns that's competitive in the global economy?