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[–] fusir 2 points 2 points (+4|-2) ago 

To further illustrate this there was a housing boom in 2006 which was an enevitability of Fed policy. See consumers price houses based on monthly cost. That is that the price of a house is highly dependent on the interest rate. The lower the interest rate the higher the value of the house, the mortgage payment being the same. Builders price a house (internally) by the material and labor cost of building which does not change when interest rates go down. So the sale price of a house and the building cost of a house are now essencially price fixed at two different levels. That means build away boys. But who is going to live in those houses now that there is demand for construction without need?

Welcome immigration. We saw peek levels of immigration is 2006-2007. The 2008 crash was not a mistake. It was a delayed symptom of this credit interference while immigration was a less delayed symptom so you can predict the one from the other if you can also illustrate that it's caused by low interest rates and building. Whites were not replaced in your neighborhood. Every one of your neighbors from the past still physically exists. Had there not been new houses that they moved into there would have been no replacement of your neighbors.

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

Excellent analysis