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Well, you can't really increase demand in a way that's good either. We're seeing that. But the only way to fix the Ponzi Scheme is...more Ponzi Scheme? 40 year
by chiefalchemist 3y ago
Well, you can't really increase demand in a way that's good either. We're seeing that. But the only way to fix the Ponzi Scheme is...more Ponzi Scheme?
40 year mortgages? 50 year mortgages? The promise that these make homes more affordable is a lie.
The root problem is, "leadership" (i.e., politicians and financial institutions) have sold people the idea that a home is an investment first, and a place to live second. When you buy into this paradigm - and *many* have - then the system is all but obligated to act in ways to drive up prices. If we *really* want "affordable housing", we're not going to get that from the current lie. What part of this insanity don't people understand?
- danielmarkbruce 3y agoEveryone being richer is a way that is good. Imagine everyone woke up tomorrow 50% more productive. Think through the bundle of goods people tend to buy, which ones are quite elastic over a reasonable amount of time (and those that are quite inelastic), and you'll come to the conclusion it's better, overall.