I'm not sure the fact that somebody can afford to pay it is a good argument. Do we really want more landlords/more concentration of wealth and power in fewer hands?
Re:ECB holds key interest rate at 4%
by Our_Benefactors on Friday October 27, 2023 @12:54PM
(#38040920)
What about 2008? Was it worse in the 80s?
Re:ECB holds key interest rate at 4%
by dragonwriter on Friday October 27, 2023 @01:11PM
(#38041121)
> The last time housing prices tanked was in the 1980s and it coincided with a deep recession and high unemployment.
The last time was 2007 (market peak in 2007Q1), and it coincided with the deepest recession since thw Great Depression; not only was the 1980s not the last time, but it would be hard to charcaterize any drop in the 1980s, even around the recession at the beginning of the period, as “tanking” (and if it was, a lot of the fluctuations during the subsequent expansions were “tanking”, too.)
Re:ECB holds key interest rate at 4%
by randomdata on Friday October 27, 2023 @01:39PM
(#38041508)
How did you determine which European enclave he lives in in order to know that its housing market tanked in 2007?
The last time housing prices tanked was in the 1980s and it coincided with a deep recession and high unemployment. So be careful what you wish for.