Amorphos wrote:interesting.The USA has 100 million home valued at about 150,000 dollars each and you really think that the USA contains 100 million jobs paid 15,000 dollars a year for 10 years
Um no, that wouldn’t make sense at all. I agree about the pricing hike, it seems the capitalists just think that one can allow ‘the markets’ to inflate by their own mystical properties. If people can afford ‘x’ then the markets [that term probably meant something in Victorian times] are at ‘x’.
So are you saying that in the main the credit crunch was invisible money becoming real, then realising it largely didn’t exist?
Everyone jumped on the bandwagon, everyone loved that their house price kept on going higher and higher for decades. Look at London, totally insane prices, look at New York City or Los Angeles, Madrid and especially a place like Rome (no industry, no offices, no job market at all, a truly turd of an economy) which has absolutely no logical reason to have sky high home prices, 300,000 dollars for a 2 bedroom home, etc.
The banks pumped the prices, the people loved it and bought into it, everyone was and still mostly is brainwashed that their home is worth so much, when in all truth, homes are the value a current economic system can sustain according to the current play of forces operating, the economy is a process, is not a static accumulation of Home Values outside of any logic, you can't freeze value into a static box that is a home, etc.
And especially the rich that pumped up the markets in center cities worldwide, the rich buying homes in London and hiking up the prices, kill them, beat them up, punch them in the face, they are crushing all the poorer people who can't compete with such prices, they are making the prices go up all across the city and region, same in Tokyo and NYC and Madrid, etc. etc.
The damage done to people who are simply a little less well off is huge with this housing price hiking that has been going on for decades all over the world, but they all pretend it is real wealth, well wealth backed up by exactly what ? The value of the owners or their capability of providing work, their talent, their capacity to Innovate or what ? The value of the owners are a big fat ZERO, they are stealing money from the poorer classes, they are using property as a weapon against the weaker class just because, for no reason at all, because they are to hate with all of your guts, hate the system we need Free Salaries and Cheap Rents!
The money doesn't exist but makes believe it exists in High Property Prices and the banks backing up their capital and worth with imaginary Property Prices they use as collateral, as assets, as their "capitalization", that have nothing at all to do with the real capability of the present economies worldwide.
I want the prices to crash like crazy worldwide.