It's supply and demand apparently there is a shortage of housing in lots of countries around the world. If people stopped paying the crazy prices then they would come down.
@MrAverage1965 And that is going to have a knock effect of its own. Possible outcomes are an increase in migratation to occupy those houses and shore up consumer demand ..OR.. a fall in real estate prices, effecting the residential real estate investment market. which includes the banks. That then flows into the taxation income from profits. Next, where are all these people going to work?? It just goes on...😷
@daydeeo Absolutely correct. But thats getting into a different area of government. Spending on a Military designed to fight overseas, rather than defend home. Spending on "foreign aid" which goes to prop up regimes because of profitable business interests. Subsiding local unprofitable businesses, so that dont go broke and create unemployment or have to compete fairly and automate, creating unemployment. As I said. It just goes on, and on, and on..😷
The Biden administration on Friday requested more than $105 billion from Congress to support the security needs of Ukraine, Israel, Taiwan and the U.S. southern border. Now that the horse has left the barn, he wants to close the door to illegal immigration.
What's another $105 billion between friends anyway? It's not like our economy is having problems or anything.
@daydeeo Not with a Republican controlled house. Only congress can pass budgets. And they approve fiscal policies for military, education, etc in their committees.
@Handfull1 of course you wouldn't. You like paying double triple prices for everything. Interest rates 4 times higher, trillions and trillions of more debt,cowing down to all these pussy ass countries and give pay outs. I'll take TRUMP OR REGAN any day over the spineless bunch we've had
That's because of the increases in the interest rate for the fed, which have been historically low since 2008.
That pricing adjustment is a correction caused not purely by inflation, but by the end of cheap and free credit. Which is a good thing in the long term. With interest at a reasonable place, people will be more careful with taking out debt. That's good. Because they have to be more careful about taking out debt, and because the cost of the debt is high, housing prices are going to need to start coming down in order for people to afford them. That is also good. Housing as a whole becomes less attractive to investers because the cost of debt limits their ROI. That is amazingly good. We need investers out of housing so that people can actually afford to live.
I know long term thinking and bigger pictures can be challenging for people. But instead of cheaper debt we can now do smart things to bring down housing costs by doing things like build more affordable homes and fewer luxury dwellings. We can make foreign investment in our properties unattractive. And we can treat houses like homes rather than portfolio assets.
@ViciDraco You are 100% correct and I might add that its the Wall st funds invested in mortgages taht will fight this tooth and nail,since these investor/owners are their milk and honey, turning and churning loans regularly, with fees and commissions every time. This is the minefield of the 2008 crash all over again. And Wall st will be looking for a bail out. again..😷
Over half of Americans are homeless or in unaffordable housing, paying more than half their income to live indoors. That's a success. You don't have a democracy problem at all because people are so poor.
