> Rather than asking "Who can we blame?" maybe we could start asking "How do we fix it?" Nobody talks about the hard truth: The homeownership rate in California is ~55% and therefore over half of Californians are heavily incentivized to keep the housing crisis going. For existing homeowners this isn't a crisis, it's a free paper money bonanza. Just by living in their houses home "owners" (most are heavily leveraged)…
> For existing homeowners this isn't a crisis, it's a free paper money bonanza. Just by living in their houses home "owners" (most are heavily leveraged) "earn" 100k in paper money year in year out - magic! Is this appreciation consistent with the rest of the country, or areas with comparable quality of life? If you only have one home, real estate appreciation only makes you money if it’s higher for your house relati…
Equity can be leveraged meaningfully without selling, so that's not true.