Re:Just Be Rich
by HWR_14 on Tuesday April 13, 2021 @02:04PM
(#26796487)
No, housing prices didn't fall dramatically in the wake of the 2008 crisis. I mean, sure, they fell 33%, but they were still higher (compared to income) than at the beginning before the start of the 2000-2008 bubble, at least in the 80 years of records I can trivially look up.
That's true in the US and UK.
I'd contend that preventing massive asset depreciation, including housing, was an explicit policy of every major economic power in North America, Europe and China. I don't know, but suspect other major economic powers also participated in that, but I'm not as well versed.
(I should point out that in the 1950s it was just as large a multiplier of household income, but in that time we went from one wagerearner to two.)
That's true in the US and UK.
I'd contend that preventing massive asset depreciation, including housing, was an explicit policy of every major economic power in North America, Europe and China. I don't know, but suspect other major economic powers also participated in that, but I'm not as well versed.
(I should point out that in the 1950s it was just as large a multiplier of household income, but in that time we went from one wagerearner to two.)