Re:Japan Shows the Way to Affordable Megacities (2014)
by TheAdamAndChe on Sunday May 07, 2017 @06:11PM
(#14287990)
I'm not sure it will correct as much as you think. The high prices are mostly driven by regional wealth inequality leading to the only good jobs being in a handful of cities. That job concentration massively increases housing costs in those areas. SV is a great example of this.
Re:Japan Shows the Way to Affordable Megacities (2014)
by Spooky23 on Sunday May 07, 2017 @08:29PM
(#14288479)
I didn't say anything about timeframe... but those kinds of conditions don't last forever.
Structural inequality is dangerous. All it takes is a little insurrection and the "faith and credit" gets depleted.
Hopefully we improve the stage of things.
Prices are high because we have an inflationary monetary policy around housing. Essentially all mortgages are nearly risk-free to the lender, and are essentially implicit federal obligations.