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"if owner-occupied housing becomes more affordable, that makes most Americans poorer" This is true only in nominal terms. Shelter is the largest expense for mo
by jhp123 2y ago
"if owner-occupied housing becomes more affordable, that makes most Americans poorer"
This is true only in nominal terms. Shelter is the largest expense for most Americans, an across-the-board rise in shelter cost would drive significant inflation.
- tharmas 2y agoBecause housing is treated as an asset in the Anglosphere. Most of the money over the last 20 years has just gone into Asset purchases, little into in productive activities. Hence the asset price inflation.