RE: The Layout For The Globalization Of Real Estate
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No, but wages have gone up in a ratio fast enough to maintain a payment on a loan for a house that has gone up 10x.
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This still supports my original assertion that it's an artificially high price though. This is due to artificially suppressed interest rates to ensure price inflation, which is part of the conflict of interest the government has holding a monopoly over currency. They do this because it devalues the dollars that they owe money in. As these prices climb, their revenues go up in nominal terms, but their debt obligations stay the same in those terms. Eventually even the low interest rates will run out of steam and people won't be able to make the payments on the huge loans. It will inevitably end catastrophically at some point. You can't run a pyramid scheme forever.
You are right...especially if the interest tied to the underlying debt is adjustable... Great convo!
This is factually inaccurate if you look at the average statistics... You may be referring to the statistics of the Top 10% or above who have experienced both the highest % wage increases, capital appreciation through real estate and equity appreciation through the stock market and unfortunately it has been all at the detriment of the people on the lowest rung of the economic ladder...