Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
Not only no, but you better get a burial plot while you can afford it.
Just throw me in the trash!
Want prices to drop?
Stop buying houses.
Eventually the bubble will burst.
The economy will be shit for a few years. And Eventually things will return to normal.
Gee, I never thought about all these houses that I was buying without a second thought! Damn, no wonder the prices are going up like crazy!
Sarcasm aside, a lot of real estate is being bought by rich assholes and companies that keep rolling debt on top of debt and using their owned property as collateral for getting more loans and keep the ball rolling. This was the case in 80s Japan and is the current case of USA (almost like a repeat of 2008) and China. If the previous bursts are anything to go by, prices won’t go down.
I know parking lot minimums make it hell for new stores to be built, but does it also affect mid- and high-rises? Because that would fucking suck if that’s another reason it’s hard to make affordable housing.
