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> we've jumped out of the airplane We who? The greedy and the irresponsible who are hogging real estate to profit from the productive sectors of the economy? G
by carlosjobim 3y ago
> we've jumped out of the airplane
We who? The greedy and the irresponsible who are hogging real estate to profit from the productive sectors of the economy? Good riddance, then. A "complete catastrophe" in real estate is great for every person and business who is actually productive and beneficial. There needs to be balance. If 100% of a nation's surplus productivity is swallowed into real estate profits, then you'll have a scam economy where all money and all effort goes into real estate instead of useful work.
- hn_throwaway_99 3y agoThis woefully and naively ignores the systemic effects. Banks hold $3 trillion in commercial real estate debt. That 60 Minutes report talks about how regional banks have huge amounts of their loan volume in commercial real estate. So to answer your question of "We who?", the answer is anyone who has a bank account, and given how the government will do everything to ensure the financial system doesn't collapse, every taxpayer. More details at https://crsreports.congress.gov/product/pdf/IN/IN12278 https://crsreports.congress.gov/product/pdf/IN/IN12278.
- carlosjobim 3y agoThat's arguing like a hostage taker or terrorist. "If we go down, we're going to make sure you go down with us". The people does not have to accept being taken hostage. There's no talk about systemic effects when real estate is siphoning all wealth from the population and making having a home and a family near impossible for most young workers. Edit: And anyone who has a bank account? Then where is the 500% return on the money that I've had in my bank account during the real estate boom, or do we only get to pay for real estate speculation losses without any benefit from real estate gains?
- eszed 3y agoNow you're getting it....