> American housing is a Ponzi scheme This is shockingly dumb. Please lookup the definition of a Ponzi scheme. First, you do know that when you get a house you

> American housing is a Ponzi scheme This is shockingly dumb. Please lookup the definition of a Ponzi scheme. First, you do know that when you get a house you actually get the house, right? That’s the value residents extract from the house. Whether my parents could resell their house was only relevant when they needed to, big shocker, move to a different house in another area. Apart from leaving something for inheritance the re-sale value was irrelevant to the utility. That’s antithetical to a Ponzi scheme. Second, anyone can build more housing and there is tons of land to keep building in 90% of the country. That doesn’t work in a Ponzi scheme if the real value that sets the price is margin that can be captured by builders.