> In February, I, along with real estate developer Bobby Fijan, went on the Bloomberg podcast Odd Lots to talk about why it’s so hard to find a family-sized apartment in the United States. I argued that North American zoning and building codes work together to drive up the size of multi-bedroom apartments in particular, putting them financially out of reach for many parents raising children. In other words, even if d…
> Just everything in Europe is tiny. T i n y. And frankly, it's not that much cheaper over here either The real kicker is that price of houses / assets is not attached to physical reality any more. Financialization drives up the price of real estate. When the financial markets trade real estate, no-one gives a rat's ass if it's a mansion or a shed - the only thing that matters is that number goes up. As was demonstra…
12 years of ZIRP certainly didn't help. It's a massive payout to the finance sector and to people who had assets to borrow against (or even just a bunch of cash to put in the stock market).