XPost: talk.politics.misc, alt.politics.usa, alt.politics.republicans
XPost: alt.economics

https://www.dailymail.co.uk/news/article-12558981/mortgages-bills-double-bank-debt.html

Monthly average payments for homeowners stand at $2,161 - an
increase of $1,000 since before the pandemic - as Fed Chair
Powell continues to hike rates in struggle to tamp down inflation

. . .

Um ... they DIDN'T hike rates, at least not The Prime.

Still, the housing situation is totally out of control.
It's not just mortgages, but even simple monthly rent.
Few can actually AFFORD this shit.

But SOMEONE is paying those outrageous bills - or
prices would fall sharply. Who ??? How ???

There's also a parallel situation in Australia.

It's not that there aren't enough houses/apartments,
same number or better since before Covid, it's that
the owners are demanding INSANE money and somehow
GETTING it.

Can't let them get it anymore.

I don't think govts are going to be able to fix this,
at least not without causing far more damage. In the
end it'll have to be the buyers/renters and maybe
the banks. Refuse to be gouged. Refuse to make loans
to cover gouging owners whims. Don't try to one-up
people who won't be gouged (THAT'S the hard one).

Capitalism is a two-part equation ... the sellers
AND those who would buy. The first part of the
equation has gotten out of hand ... so the 2nd
part has to make the adjustment, the effort.

MAKE that effort, now, or live in yer car or a
cardboard box in the alleyway with yer kids,
next to the local junkies. Owner wants $2k for
a 1-br apt ? Offer 500. And Joe - don't offer
600 ... the sellers HAVE to be curbed. Consumers
have to take charge. It has to be an informally
coordinated effort.

We saw something like this not all that long
ago - the "property/credit bubble" that exploded
violently and caused a huge recession. This is
what happens when The Equation gets out of
balance.

How come nobody seems to LEARN ??? Same
stupidities, over and over and over and ....

--- SoupGate-Win32 v1.05
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