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I like it. Rage, rage, rage against the system. Perhaps give it some thought about what would happen if housing prices nationally dropped 20-30%.

jandrese 3y ago
We would be back to the house prices of (checks notes) 2021?
- willio58 3y ago
  Haha this was my first thought too
eli_gottlieb 3y ago
>Perhaps give it some thought about what would happen if housing prices nationally dropped 20-30%. My best friend might finally be able to buy a place?
- jl6 3y ago
  Or it would trigger a giant recession where your friend loses their job and can’t afford anything, housing or otherwise. I’m fully onboard with the idea that we need to find a way of decoupling housing from investment, but sudden cliff edge events are usually bad for everyone. We need de-escalation, not a crash.
  - dragonwriter 3y ago
    Realistically, a large short-term drop in home prices is only happening because there is giant recession with high job losses and/or wage drops. Supply improvements could produce a slow real decline, but not a sudden, widespread one in any realistic scenario.
  - Kon-Peki 3y ago
    > but sudden cliff edge events are usually bad for everyone Rich and/or connected people have a tendency to look pretty good coming out the other side... All the more reason to not like such events.
HWR_14 3y ago
I don't see a downside. The only people who would are those who bought in the last couple of years, but that's true whenever a bubble bursts.
- roflyear 3y ago
  You'll potentially have a lot of people planning on retiring not being able to retire, for one. You'll have people who are forced to hold onto their homes because they will be underwater.
  - HWR_14 3y ago
    Only people who bought in the last few years would be affected, so it shouldn't affect anyone's retirement. And why do I care if people are forced to stay in their homes for a decade as opposed to flipping them for massive profits?
    - roflyear 3y ago
      Do you own a home?
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jandrese 3y ago

We would be back to the house prices of (checks notes) 2021?

willio58 3y ago
Haha this was my first thought too

eli_gottlieb 3y ago

>Perhaps give it some thought about what would happen if housing prices nationally dropped 20-30%. My best friend might finally be able to buy a place?

jl6 3y ago
Or it would trigger a giant recession where your friend loses their job and can’t afford anything, housing or otherwise. I’m fully onboard with the idea that we need to find a way of decoupling housing from investment, but sudden cliff edge events are usually bad for everyone. We need de-escalation, not a crash.
- dragonwriter 3y ago
  Realistically, a large short-term drop in home prices is only happening because there is giant recession with high job losses and/or wage drops. Supply improvements could produce a slow real decline, but not a sudden, widespread one in any realistic scenario.
- Kon-Peki 3y ago
  > but sudden cliff edge events are usually bad for everyone Rich and/or connected people have a tendency to look pretty good coming out the other side... All the more reason to not like such events.

HWR_14 3y ago

I don't see a downside. The only people who would are those who bought in the last couple of years, but that's true whenever a bubble bursts.

roflyear 3y ago
You'll potentially have a lot of people planning on retiring not being able to retire, for one. You'll have people who are forced to hold onto their homes because they will be underwater.
- HWR_14 3y ago
  Only people who bought in the last few years would be affected, so it shouldn't affect anyone's retirement. And why do I care if people are forced to stay in their homes for a decade as opposed to flipping them for massive profits?
  - roflyear 3y ago
    Do you own a home?
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