Re:Lyft laying off 13% of staff
by colechristensen on Thursday November 03, 2022 @01:15PM
(#33454215)
Yes, but so was the bubble that preceded it, in the opposite direction.
If you have a whole economy ignoring signs and pretending growth goes forever you get bigger, harder crashes.
We can hope that this downturn is going to be a short wave just in response to the post covid overhype. But really there are still big problems with real estate valuation with lots of things going to be literally under water in decades and everything overpriced as a result of bad policy with low interest and too many people having enormous loans for most of their working lives.
Housing as investment needs to be drug out into the street and shot, but there isn’t really any way to do that which doesn’t cause a huge economic shock.
If you have a whole economy ignoring signs and pretending growth goes forever you get bigger, harder crashes.
We can hope that this downturn is going to be a short wave just in response to the post covid overhype. But really there are still big problems with real estate valuation with lots of things going to be literally under water in decades and everything overpriced as a result of bad policy with low interest and too many people having enormous loans for most of their working lives.
Housing as investment needs to be drug out into the street and shot, but there isn’t really any way to do that which doesn’t cause a huge economic shock.