As with most government financial problems, more money is the last answer. Stop wasting mony on stupid sh1t.
Exactly. Stop throwing money at problems from 1000 ft away.
Imo inflation is the thief. Its drained everyone. In terms of more housing - where would it go? Unless its desert, hillside, or swamp, open land is already crazy expensive. It would have to be asian style skyscraper condos.
So beyond just inflation, the insane open borders is the real cause of the housing crisis.
The real cause of the housing crisis is letting banks/lenders stockpile housing in their portfolio. The rules used to be such that the banks COULD NOT own the properties very long, and had to get any foreclosed properties back into the market ASAP. I think they had a year or less from the time the property was FCd and the debtor relinquished their right to reclaim the property first.
They and their employees also could not buy the properties for themselves. It had to be an arms length transaction, and offered to buyers seeking to occupy the property first. If no one bought as owner occupied, investors were allowed to bid (I believe it was after 90 days to 6m depending on which decade.
Banks across the country have since lobbied for more favorable terms and employees can buy the properties without intending to occupy them, and banks can hold them much much longer.
THIS has caused a false shortage of available, low cost housing and driven the prices through the roof. The banks and bankers, corporate officers and employees that participated in these schemes ALL need to be rounded up, their property confiscated and returned to the market, and prices and tax evaluations lowered back to real market values.
Engineering the market in your favor is ILLEGAL. Buying up all of an asset and hiding it from the market is ILLEGAL. We need to reinforce the laws that kept this kind of market manipulation at bay, and return sanity to congress as well. No more insider trading and manipulation of the market for financial gain.
It's common sense vs corruption right now.
Blackrock, Vanguard, and others shouldn't be allowed to buy up property with no intent for it to be occupied. This is a perversion of the marketplace and needs to be punished severely.
White collar jobs will be the first to go but it will be data entry jobs. Ai can definitely perform menial functions like take info from one spot and put it in another.
The dirty corporate secret is most data entry jobs are already gone. Much cheaper technology like screen scraping or data mapping (or offshoring) already killed those.
Most jobs requiring basic and slightly advanced computer skills as well. All to "keep retail prices down" and deflate the market so people without working much could afford and consume whatever they wanted, even if they didn't need it.
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