Sigh. Where does it all end then? We had stupid lending which led to this housing bubble, people getting greedy and buying beyond their means (no fat government salary here), but inflation, the real one, will keep this house and many others at a high level? So are these prices “real?”
Man I wish I knew where this was gonna end. It can’t end well. The only things I know for sure are that a lot of people with way more money and power than yours truly have a vested interest in keeping this charade going as long as possible and that this country is unique in its ability to print currency backed by nothing that everyone else in the world is obliged to accept. Nothing about this scenario is “real” in any sense of the word.
It has been touched on in other threads on this site that the concept of homeowning in this country may become sort of a lifetime rental arrangement from the bank. Meaning, your average “homeowner” will never pay off their mortgage. Note that in many other countries (in south america for example) there are not really mortgage loans as in the US. People pay cash for homes or they don’t get to buy them at all. It used to be that way here in the US, too. For a few decades, mortgages were very effective in allowing a large number of citizens to own property but I’m worried that those days may be over. Remember that the powers that be don’t want you and I to own property. They want us to be indebted for our entire lives. If we’re not paying interest to them, they’re not getting paid. When they’re not getting paid, they get upset. And when they get upset, watch out.
Depressing, isn’t it! Of course I could be wrong. I HOPE I’m wrong!
