LogFAQs > #980146801

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Topic	The market sucks for buying a house.
legendary_zell 04/29/24 12:10:39 AM #25:	The prices aren't gonna go down because housing is being used as an investment and it's also the only way for ordinary people to build wealth at this point. The price continuing to go up is a disaster and the price going down substantially would also be a disaster for the middle class because their home ownership and equity is a big part of what makes people middle class in the first place. There's not really an easy solution unless there's some way to crater the price for new homes while not touching the value of existing homes. There's no way to do that because houses are compared to each other. It was a mistake to make housing not just an asset, but THE asset. --- I gotta be righteous, I gotta be me, I gotta be conscious, I gotta be free, I gotta be able, I gotta attack, I gotta be stable, I gotta be black. <cite>legendary_zell posted [p:980146801] in The market... [t:80757992]...</cite> <quote>The prices aren't gonna go down because housing is being used as an investment and it's also the only way for ordinary people to build wealth at this point. The price continuing to go up is a disaster and the price going down substantially would also be a disaster for the middle class because their home ownership and equity is a big part of what makes people middle class in the first place. There's not really an easy solution unless there's some way to crater the price for new homes while not touching the value of existing homes. There's no way to do that because houses are compared to each other. It was a mistake to make housing not just an asset, but THE asset. --- I gotta be righteous, I gotta be me, I gotta be conscious, I gotta be free, I gotta be able, I gotta attack, I gotta be stable, I gotta be black.</quote> ... Copied to Clipboard!
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