At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
The Generation Squeeze folks have recommendations.
The market: Still significantly above the pre-2020 trend.
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Until we see a significant drop in prices, the market hasn’t crashed. Maybe it’s the dead cat bounce, or maybe prices are stable.