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>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?
by 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 agoOr 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 agoRealistically, 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.