ARTIFICIAL SCARCITY – So housing prices are making new highs because of a “lack of inventory,” but homeownership rates are at 1980s levels.

ARTIFICIAL SCARCITY

So housing prices are making new highs because of a “lack of inventory,” but homeownership rates are at 1980s levels.

At least in #housingbubble1 the prices moved in lock step with ownership. Now due to artificial scarcity the prices have detached.

twitter.com/OccupyWisdom/status/1006771903539941377

After the bubble burst in 2007 many banks and hedge funds bought up the foreclosures making available inventories tighter causing the supply < demand and inflating the 2nd bubble. The rate is just what % of pop owns

 

 

1,262 views