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It would absolutely be healthy for USA society if housing prices were deflated by 2-10x. I don't care if my mortgage rate is 10% instead of 7% if the overall l
by pphysch 3y ago
It would absolutely be healthy for USA society if housing prices were deflated by 2-10x.
I don't care if my mortgage rate is 10% instead of 7% if the overall loan is a fraction of the size (i.e. $200k instead of $700k). Maybe I don't even need a mortgage.
It would be horrible for Wall St, which runs Washington from K Street. Many people would not be able to afford their yachts and Aspen resort homes. This is why we working Americans increasingly can't have nice things.