[quote=scaredycat]figure 65% of homes are owned. [/quote]
Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.
It is the % of people who don’t own a home that want prices to come down.
Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?
And, can those who don’t own homes provide enough cash to really have an effect after many years ?
If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.
Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?
Propping up the housing market is an unsustainable plan long-term.