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[–] ch3f4554551n ago 

Banks and the Chinese.

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[–] Stayedclassy ago 

I actually prefer homes from the 80s. After that they became too cookie cutter and extravagant to the point of excess.

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[–] wgtt911 ago  (edited ago)

oh.. just turn it into section 8 housing for the refugees... no need to sell it, government welfare retirement...

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[–] Kannibal [S] ago 

veterans too

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[–] therealkrispy 0 points 1 point (+1|-0) ago 

Crises like this, which are called 'corrections' on Wall Street, are basically side effects of having a rigged economy. What we need is a real, complete, unmitigated collapse to fix it. No buyouts, no closing the banks, no 'new deal,' because the people will only be hurt in the short term. The Ponzi schemes we call financial institutions, the government sanctioned monopolies we call industry incumbents, and the mob-like protection rackets we call regulatory bodies will all be washed away by a selling flood, and I assure you, America will be just fine after a few months.

Either that, or they'll do bailouts, QE and 'tighten regulations.' if we do that again, it'll just mean a higher set 'baseline' for their fake unemployment numbers. Of course, there won't be a housing crisis, because these upcoming two generations are actually getting mortgages earlier than usual.

That being said, we have multiple major economic crises to make up for not really having. The Great Depression was only bad for the people because the government protected the big businesses. They'll have to take a header this time around.

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[–] bluntripkin 0 points 2 points (+2|-0) ago 

china

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[–] canbot 0 points 3 points (+3|-0) ago 

The banks. They get free money from the Federal Reserve and from government handouts. They buy up real estate and rent it to the Baby Boomers' kids who can't afford to buy.

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[–] Kannibal [S] 0 points 1 point (+1|-0) ago 

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[–] klobos 0 points 11 points (+11|-0) ago 

This is why the government, run by the banksters, wanted so much legal and illegal immigration and more refugees. The housing market is in for a huge pricing decline. That definitely would have some bad effects on the economy but what they failed to realize is that the birth/death cycle is normal and supposed to do this and lead to effects like this. When my generation and younger can finally afford things, we start having more and bigger families, sparking the next baby boom. Now, because of our short sighted greedy unwise narrow thinking assholes in office, we have a baby boom from the criminal welfare class with the finance sector owning the homes and renting them to the undeserved with subsidies my taxes have to pay for. So I still get an expensive home to buy, and my taxes go up to makes sure all the dindus get a roof, and I now also have to pay more taxes for police, fire, health.

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[–] ch3f4554551n 0 points 1 point (+1|-0) ago 

Nailed it.

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[–] Ghetto_Shitlord 0 points 1 point (+1|-0) ago 

"When my generation and younger can finally afford things"

IF!