Of Two Minds

Does anyone really believe that the renunciation of massive, sustained stimulus of speculation in housing would leave housing valuations unchanged because valuations are solely the result of “shortages”?

If we compare health and endurance, well-being, security, general attitudes, family and community ties and values, we would conclude that it is we who are impoverished.

Should stock valuations track this same decline in profits, it’s entirely reasonable to expect the stock market to lose 2/3 of its valuation premium.

We’d rather risk societal collapse than face the sacrifices and challenges of revolutionizing our unsustainably neofeudal economy and broken gears of governance.

Let’s review how to select a town that the rich won’t ruin via gentrification / swarming in en masse and driving out locals who have to work for a living.

This is the direct consequence of the Federal Reserve’s decades of unprecedented stimulus: extremes of wealth and income inequality that gave the wealthiest households the means to bid up housing to the point it’s no longer affordable to the bottom 90%.