Yes the problem is we view housing as an investment and people use their primary residence as a means of funding their retirement. Even if we individually set housing prices and people “lost” 3/4 of their home value they would still be able to buy another home with the value remaining because it would also be lowered. It would only affect using your equity to pay for life services. And even then, if we controlled rent prices and retirement home prices none of that would matter at all.
The thing with homes and the stock market going up is that it doesn’t create value. All it does is take money from people working and trade it to people who “own” things.
Yes the problem is we view housing as an investment and people use their primary residence as a means of funding their retirement. Even if we individually set housing prices and people “lost” 3/4 of their home value they would still be able to buy another home with the value remaining because it would also be lowered. It would only affect using your equity to pay for life services. And even then, if we controlled rent prices and retirement home prices none of that would matter at all.
The thing with homes and the stock market going up is that it doesn’t create value. All it does is take money from people working and trade it to people who “own” things.