XPost: talk.politics.misc, alt.elections, alt.politics.repubicans
https://www.dailymail.co.uk/yourmoney/housing-market/article-12800963/home-prices-record-cities-high-detroit.html
US home prices rose for the eighth consecutive month in
September, hitting a record high, according to new data.
Prices increased 0.7 percent from the month prior, according
to the S&P CoreLogic Case-Shiller US National Home Price Index -
the leading measure of US house prices.
It means year-on-year properties have gone up by 3.9 percent,
the Case-Shiller data showed. It is an acceleration on price
rises from August, when the average US home went up by 2.6
percent year on year.
Mortgage rates climbed above 7 percent in September, and
historically low inventory pushed up prices.
Home prices also shot to all-time highs in Atlanta, Boston,
Charlotte, Chicago, Cleveland, Detroit, Miami, New York,
Tampa, and Washington, the data revealed.
. . .
It's not just the USA either - much of the western world,
including Oz, Japan and S.Korea. Despite prolonged high
inflation and loan rate hikes, people are STILL willing
to pay more and more for the same shit property.
There are two bad ends to this. First off is a repeat
of the property/loan bubble of really not all that
long ago. POP ! and zillions go down a black hole.
Second, it's reaching the point where a LOT of people
will have no place to live. Those who can just barely
swing it won't have money to buy much else - and
the 'consumer goods' market goes away. There is already
a whole new class in the USA - the "working homeless"
They, maybe the whole fam, live in a car - or worse.
Now maybe this is an evil commie plot to create a
situation where people DEMAND the govt move in and
"socialize" the housing market ? What you bought for
half a mil is suddenly public property, and worth
a buck-ninety-five.Might happen, 'plot' or not.
More likely it's just people being as greedy and
stupid as possible - just like with the last crash ...
until the NEXT crash, probably just next year.
The pols HAVE to keep the bread and circuses coming.
It's a side-effect of anything like a 'democracy'.
However all nations are deeply in debt because of
this mandate and it CAN'T go on forever - or even
much longer. I think Covid was the final straw,
and the new wars are just speeding things along.
--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)