Quote:
Originally Posted by Mavdog
housing is a necessary item. it isn't a "mal-investment".
we don't have an "over abundance of housing", we had a distorted valuation for housing.
as the values have declined, sales of units have risen.
it seems that the market is working in this case.
btw if the cost of borrowing increases fewer borrowers will elect to take out loans.
|
Ofcourse every house will be sold for the right price. The housing boom still created mal-investments in the form of houses that were build on fake demand created by the Federal Reserve robbing the purchasing power of the poor and the middle class.