News for hackers. Stuff that matters.
Re:The drought in the western U.S. is getting bad by mapster on Wednesday June 09, 2021 @10:56AM (#27448638)
Explain the 2008 housing collapse mr free market. Millions are waiting
Re:The drought in the western U.S. is getting bad by zpeti on Wednesday June 09, 2021 @11:02AM (#27448714)
As a result of the tech bubble popping greenspan lowered interest rates for 10 years to almost 0, effectively meaning banks could lend any amount of money, but also couldn't earn any money from actual interest and needed to find all sorts of ways to make a profit, e.g. repacking and selling bad loans to other banks and pensions.

I'd argue if we let the tech bubble pop properly, have a recession for 2-3 years, but keep interest rates at higher rates, it would have preventing a housing bubble.

And that's down to greenspan, and government intervention, not the market.

Re:The drought in the western U.S. is getting bad by djbebs on Wednesday June 09, 2021 @01:38PM (#27450772)
Government pushed for higher homeownership by tinkering with mortgages, taxes and regulations which resulted in banks issuing increasingly unsafe loans.

Government then bailed out the banks

Re:The drought in the western U.S. is getting bad by refurb on Wednesday June 09, 2021 @07:52PM (#27454963)
The comment was about CA’s high rent. What are you going on about 2008?
Re:The drought in the western U.S. is getting bad by handrous on Wednesday June 09, 2021 @11:39AM (#27449184)
Every failure of capitalism is always the government's fault (as if those are separate somehow?) and any success is always despite government, not because of it. That's always the response to this kind of question.