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21 sats \ 1 reply \ @ZezzebbulTheMysterious 12h \ parent \ on: Why UK Homeowners Are Delusional About Property Values (FT, Hugo Cox) econ
Don’t forget the west securitized debt in the 80s with the invention of mortgage backed securities. So the property ponzi became a systemic attribute and the engine of low velocity money, it could not stop, lest we ire capital and the retired.
That and the ‘71 gold conversion cancelation are the two largest macroeconomic events of our world, and impact us today.
I hope for a correction in pricing of real estate. That and student debt are the two greatest burdens for the youth, and seem to exist only today to transfer wealth from young to old. Bring on the 1 BTC houses, then 1 BTC mansions, then 1 BTC estates.
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10 sats \ 0 replies \ @Solomonsatoshi 11h
A correction in house prices is very likely now. The culture of debt slavery has become parasitic - destroying the host. The debt burden is now unsustainable. The whole system probably needs to collapse and be rebuilt from the ground up. Bitcoin is a model for how things could be rethought and rebuilt.
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