President Biden criticized news coverage of the U.S. economy as he faces growing backlash from voters over his handling of inflation. In brief remarks Saturday before boarding the presidential heli…
Totally agree with the points you’re making. Policymakers don’t do nearly enough to support the economic base of the country. In the long run, that does have dire consequences.
Regarding housing prices, I think you already know this, but wanted to clarify that those are less of an inflation problem and more of a supply / demand problem. New housing supply collapsed after the 08 crisis and has been slow to recover since. Some have argued that once more of the boomers die off it will open up more supply, but I’m not fully convinced.
Unfortunately, I don’t see any quick fixes for the housing problems we’re facing. We need to advocate locally against NIMBYs and more broadly for programs to enhance access to housing, public transit, etc. We have lots of big problems but IMO public discourse gets bogged down arguing about semantics.
We’re in the middle of Boomers dying. (I need to visit my parents more) They’re 1946 to 1964. On demographic charts the die off period is quite evident around 60-80 years old. Which is the age group they’re in now.
We aren’t getting those houses because investment companies are buying them at +20 percent value sight unseen, and a bunch of other baby boomers did reverse mortgages to pay for their medical bills.
Which is all tied into the massive redistribution of wealth from the working class to the wealthy over the last 50 years.
Totally agree with the points you’re making. Policymakers don’t do nearly enough to support the economic base of the country. In the long run, that does have dire consequences.
Regarding housing prices, I think you already know this, but wanted to clarify that those are less of an inflation problem and more of a supply / demand problem. New housing supply collapsed after the 08 crisis and has been slow to recover since. Some have argued that once more of the boomers die off it will open up more supply, but I’m not fully convinced.
Unfortunately, I don’t see any quick fixes for the housing problems we’re facing. We need to advocate locally against NIMBYs and more broadly for programs to enhance access to housing, public transit, etc. We have lots of big problems but IMO public discourse gets bogged down arguing about semantics.
We’re in the middle of Boomers dying. (I need to visit my parents more) They’re 1946 to 1964. On demographic charts the die off period is quite evident around 60-80 years old. Which is the age group they’re in now.
We aren’t getting those houses because investment companies are buying them at +20 percent value sight unseen, and a bunch of other baby boomers did reverse mortgages to pay for their medical bills.
Which is all tied into the massive redistribution of wealth from the working class to the wealthy over the last 50 years.