this post was submitted on 04 Feb 2024
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A Boring Dystopia
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That seems fanciful. You can get decade long mortgages right now for under 6%.
We haven't even begun to see just how fucking bad this incoming depression is going to be. We've staved it off for a long time by wildly printing money and shoving it anywhere it will fit since 2008 but that's over now.
It's going to be really, really fucking bad, and the cratering of the real estate market will only be the beginning. China is already feeling it.
During the last Great Depression, real estate was a hedge for the wealthy as they pulled out of the retail-overleveraged stock market that was starting to wobble while being at an all time high after the spanish flu, was mainly due to everyday joe investors with no fundamental understanding of company valuation investing in the financial recovery once everyone stopped dying all over.
DOES ANY OF THIS SEEM FAMILIAR?!?!??!