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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The supposed "real net worth" is due to housing prices increasing. I know some families who sold their houses and moved to lower COL cities. Then what? I don't know anyone who is happy that housing prices went up. [/quote]
Every homeowner is happy that housing prices are up - so two thirds of Americans. “The homeownership rate in the United States rose slightly in 2022, reaching the highest figure since 2011. In 2022, the proportion of households which are occupied by owners stood at 65.9 percent.”
https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/[/quote]

Happy? No.  People who look on their homes as investments might be happy.  The rest of us would prefer lower property taxes.  [/quote]
So you want less net worth so you can pay less property taxes? Maybe sell your house then.[/quote]

NP. A house is to live in. All of the Trump wannabes real estate faux moguls distorted the housing market, see 2008. Once people started viewing housing as an investment rather than something to live in we have had soaring real estate costs and a collapse. Yes, I want my house to appreciate in value but I also want young families to afford to buy into my neighborhood. I want a diverse neighborhood. There are many ramifications to appreciating real estate values some good, some bad. [/quote]

The mortgage market is federally insured. The government forcefully encouraged liar loans and slashed interest rates following 911 to juice the post dot com bust economy and pay for war footing. The economy has been taken away from the free market and government controlled ever since the government sets the price of money (interest rates) nothing is more socialist than dictating the price of money.[/quote]

+1 the mid-2000s subprime mortgage crisis can be laid at the feet of decision-makers post 9/11.  And the resulting 2008-2009 great recession too.

All the Big Short & similar documentataries glossed over how government policies were complicit (along with big greedy banks, corrupt  ratings agencies, and idiotic over-leveraged homeowners who used their houses like ATMs)  plenty of blame to go around. [/quote]

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