Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
Oh I need to add a note about boomers because it’s interesting now that I think about it.
The thing is that post ww2 capitalism had it that the dream for workers would be to get a work that allow them to buy a house, maybe a second one, and live a good life for that. It worked well, but like all capitalist dreams it was pyramid scheme that ends with us.
That’s why most politicians won’t do shit about it: it’s the core of the American/capitalist dream. It is also why most boomers will never believe or accept any solution to the problem: their whole life was built on this, and now rely on this.
A lot of boomers are also occupying homes much larger than necessary. I live in an older suburb of 1950s houses so its a mix of older people and younger families. Of my immediate neighbors at least 12 of 30 homes are single old people or couples living in 3 or 4 bedroom homes with yards. These are good neighbors because they are quiet and rarely seen but completely wasting space that families could be living in.