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?

  • MystikIncarnate
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    1 year ago

    Unless there’s a massive crash or a bubble pops, leading to a significant recession (unlike what we’re currently in… Far more severe, and probably more severe than ever before)… No.

    It may come down, and kind of ebb and flow a bit, but “affordable” isn’t going to be a word used to describe where prices go from here.

    Also, we definitely are in a time of great inflation, which is causing recession-like things to happen. If there’s a recession at all right now, it’s being manufactured by artificially inflated prices by greedy companies, more than anything else. This would be a good thing if “trickle down” economics existed (it doesn’t)… So instead, everyone at the bottom is slowly dying while billionaire bank accounts gain a few more percentage points. When the system snaps from the massive disparagy between the ultra rich and the poor, if the system doesn’t entirely collapse at that point, then we’ll be in yet another unprecedented, once-in-a lifetime event, like we’ve never seen before. All of the millennial generation will groan and roll their eyes about it happening yet again.

    Millennials, and by proxy gen z, have been so completely fucked by all the ultra rare events that have happened over the past two decades… A housing crash, a pandemic, a recession or two, now out of control inflation and insane race wars heating up. I feel like the entire generation is so burned out from it all that if aliens showed up tomorrow, it would barely be a footnote in most people’s daily lives. Honestly, anything an alien race did, like taking over the world, would probably be an improvement. Even death at this point, seems more appealing than a lifetime of indentured servitude in an unfair system designed from the ground up to force the “poor” into positions they don’t want, doing things they don’t enjoy, just to make enough to live. That’s not enough to make most of the generation suicidal, but I don’t think many people would give a shit either way at this point. Moreso if you don’t have dependents.