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it's based on an expectation of long-term economic concentration that has held for centuries so it's not expected to reverse anytime soon the concentration is
by muyuu 4y ago
it's based on an expectation of long-term economic concentration that has held for centuries so it's not expected to reverse anytime soon
the concentration is two-fold: of capital toward assets as the monetary mass keeps growing outpacing human labour/capital, and geographical as location near economic activity continues to matter a lot for most people
i don't think there are any instances of these trends reversing without the money simply moving elsewhere
- harambae 3y ago> long-term economic concentration that has held for centuries This reminds me of the article someone posted on HN that, from ancient Roman times till today, a nice house has always cost roughly 10,000 grams of gold. It wasn't quite true and is an over-generalization, but it was an interesting point. I see this recent housing boom mostly through the lens of monetary expansion, since the US population has not actually skyrocketed over the last 2 years.
- muyuu 3y agowhile you are right this hasn't strictly happened over a 2-year period, the US population has concentrated significantly during this generation, creating a supply crunch on economically desirable locations supply crunches create volatile markets in the short term