With inflating house prices contributing to GDP figures, how much interest do you think the government will have in tanking the market to take from the haves and give it to the have nots?
As with any essential good/service (looking at you, US healthcare) commodiying housing was a catastrophic mistake. The essential nature of it inevitably creates market failure - the consequences of which are plain to see in that graph.
This is what a bubble looks like.
This is what a government enabled bubble looks like that has no interest in “solving” the issue.
This was the slowest moving train wreck I can think of.
With inflating house prices contributing to GDP figures, how much interest do you think the government will have in tanking the market to take from the haves and give it to the have nots?
As with any essential good/service (looking at you, US healthcare) commodiying housing was a catastrophic mistake. The essential nature of it inevitably creates market failure - the consequences of which are plain to see in that graph.