Feels like we're getting a little closer, but...
Riddle me this: if EVERY country is having the same affordability crisis, can we expect to have an isolated crash in one country?
If homes become cheaper in USA, won't they be bought up by, say, a wealthy person from another country who came into some money and needs to invest some money to avoid being slammed with income taxes?
The increased interconnected-ness of it all, the likelihood that homes could be bought and sold online, the rise in AI, could make homes not so different from any other investment. We could see the virtual end of private home ownership in our lifetimes.
I guess what I'm grasping at is this: what if we finally see the real estate crash we want, but it only makes the problem worse?
Does anyone have any enlightening thoughts out there? The whole situation with housing tripling due to low interest rates and the guy working at the ACE hardware giving me investing advice is laughable to me, but it seems like this is the shape of the future.
Looking at the news these days, if Canada or Mexico in any way becomes part of the USA, as states or territories... and people start buying and selling houses across the borders, won't that just decimate our affordability?
There is such a lack of thought being put into these things by the people I meet in daily life, you'd think nothing interesting was happening in the world. Surely someone is thinking about the future, right?