Housing isn't meant to be affordable
Michel Durand-Wood April 25, 2024
"...According to data from the US Federal Reserve Bank of Dallas, indexed home prices in the US are 88.1% higher than they were in 2005, near the peak of the “housing bubble,” making it the second highest of the G7 countries. [Literature fans will recognize that as “foreshadowing.”]
...Turns out that a return to Victorian-era practices of locking out an entire class of people from land ownership tends to lead to civil unrest and revolt...
...We’re screwed if housing prices keep going up. We’re also screwed if they go down. That’s the trap..."
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