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[–] 10 points 1 month ago (1 child)

These people bought as investment. Homes in my area peaked around $1.8M in 2023, now they are lucky to get $1.2M.

The real losers are people who got HELOCs to buy stupid shit and vacations, because all graphs extrapolate upward.

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  • [–] 1 point 1 month ago

    While I agree that that is where responsibility lies as things stand, I do kind of feel that given the unusual nature of the housing market and the fact that a considerable number of people persist in buying into booms might mean that we should restructure things to help discourage that.

    Like, maybe...I don't know. Federal mortgage availability in a given metropolitan area could be conditioned on the Case-Schiller Index or something. That would tend to stabilize prices.

    It'd also tend to discourage cities from blocking construction of new housing.

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