Can someone tell me why the prospect of high home prices appeals to the government? I mean, apart from not punishing the fools that were playing the RE market and the banks that lent them the money to do it.
Over the long term it seems to me that the effects of a housing price structure that consumes a larger portion of a workerbee’s paycheck is to permanently reduce their purchasing power for everything else. It reduces the percentage of the population that can share in the American Dream. It widens the gap between haves and have-nots.
I would normally think that all these readily observable results would be an anathema to all of the political progressives and at least some of the political conservatives alike.
