[quote=briansd1][quote=Arraya] The sneakiest part of this whole plan is how they try to package it to citizens as keeping home prices high for their benefit, when in actuality the citizens and a consumer based economy benefit from low housing costs.[/quote]

I agree with you there.

But that would mean that people stop paying interest to the banks.

People have been consuming thanks to equity extraction.

It’s unbelievable to me that that so many American families are at the end of the rope. You’d think that after generations, parents had left enough wealth to their offsprings so that the young generations wouldn’t be in so much debt.

What ever happened to the argument from the real estate industry that you buy a house with the goal of paying it off by the time you retire? If that were true, then kids and grandkids would have very little needs to incur housing debts of their own.

But it’s the other way around. Debts rose in proportion to housing value.[/quote]
Right now it does look to me like housing has been turned into a big scheme to separate working people from the fruits of their labor via interest payments, oh yeah and tax payer bailouts… and institutionalizing high prices. Not saying many people don’t throw themselves willfully and excessively into the scheme. Apparently the skimmer class got a little carried away on that desire to collect interest and it backfired.