Comment by analog31
1 day ago
I was going to say 40 years, which is roughly when the Reagan administration gave up on promising to control the size of government. There's a question of when unsustainability has gone on for long enough to be regarded as perpetual.
The housing supply in my locale exploded during the run-up to the 2008 crash. Acres and acres of land got turned into spec neighborhoods. There were multiple hi-rise condominium towers going up within eyeshot of my house. In fact, my dad remarked presciently: "Condominium construction is a traditional indicator of the end of a housing cycle."
I was thinking back to when Clinton balanced the budget.
And yes I directionally propose that we should build houses until property prices fall and then build some more.
The housing crash was funded primarily by the govt. Loans were being made because of govt policies that never should have or would have been made otherwise!
2008 was devastating because it made us stop building housing due to speculative price manipulation of securities and again the govt being in a business it should not have!
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