Reply to If you were born in 1990, how do you plan on ever affording a house?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]Furthermore, it's been public policy in recent years (most egregiously post-2008 fin crisis) to move heaven and earth to keep housing prices AS HIGH AS POSSIBLE! Think about that: the government works to make a fundamental human need as expensive as it can. When you understand that this is concurrent with policies to suppress wages as much as possible, you should see this as a very bad situation.[/quote]

Can you explain a little more about these policies- who is making these decisions and what is the mechanism that carries them out? Thanks!

[/quote]

Bank bailouts, conservatorship of Fannie/Freddie, and QE.  37% of home purchases were made by investors last year.  Yeah this is sustainable.[/quote]

What do you mean when you say, "...the government works to make a fundamental human need as expensive as it can." Who is forming this public policy? Elected officials? Or private business people? Where is the policy coming from?
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Whos in charge? Boomers.  What does their base need to retire? Home equity because they havent saved a penny.  Who votes the most? Boomers.

Heres another one.  Who defaulted during the last crisis? Regular people a few had bad credit but most had good credit.  Who owned their houses?  The banks owned the mortgages.  Who was bailed out when they went red? Hint - not the regular people.  Banks were able to write off bad mortgages without taking a hit bc who is in charge of the banks? Wall st.  Who has lots of money to affect policy in their favor? And it continues.

And to top it off - during a recession when regular people are either a) unemployed or strugglig who benefits the most from low interest loans with tight underwriting?  Companies with oodles of money.  Fed themselves admitted that qe was partly to reflate housing prices. [/quote]

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