448
Trump Says Biden Plunging U.S. Into Depression. The Stock Market Hit a Record High
(www.rollingstone.com)
this post was submitted on 14 Dec 2023
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politics
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I mean, the housing market is fucked for the foreseeable future because the Trump administration kept interest rates ridiculously low, well after we had recovered from the 2008 crash.
This made a bubble from businesses and individuals borrowing as much "free money" as they could because it was easy to beat the interest, even from low performing investments. Obviously, a lot of this money ended up in the real estate market, inflating the shit out of it. Then the pandemic happened, and everyone was stuck at home, wanting to upgrade, and bam, crazy inflation.
So now we're rather fucked. Prices aren't coming down because people are locked into their stupidly low interest rates and can't sell without taking a huge hit.
Big surprise that existing real estate owners saw their properties double as a direct result of economic policy, dictated by a real estate tycoon president.
The US since it's inception has basically been an experiment in free real estate.