this post was submitted on 21 May 2024
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[–] partial_accumen 4 points 7 months ago

I’m tired I’m come back later and re read everything and see if I need to explain anything better then.

No need. Read @[email protected] 's explanation. I got the missing piece which explains it (and its not even close to anything you were talking about).

I got the answer to my original question of "why home ownership didn't increase when property values fell?".

Its this:

"Little problem is that mortgages have been absent in anything but paper so Argentines have not been able to acquire property or housing with ease since years ago"

.... and this....

"Last time mortgages were available, it was in 2017/2018."

Would-be home buyers couldn't get mortgages because banks wouldn't lend to anyone. Full stop.

You and I were trying to apply normal market conditions that exist in the USA. Instead I took the approach of asking how Argentinians house themselves and Shardikprime seems to have the regional knowledge both you and I were missing.