Comments by "Fumble_ Brewski" (@fumble_brewski5410) on "Where Home Prices are Crashing" video.

When people bought homes to simply live in, as opposed to an investment for appreciation (capital gain), this never used to happen. From January 1953 to January 1973, the median home price in the U.S. increased from ~ $18,000 to ~ $27,000, a 50% increase over a period of 20 years. That's an incremental increase of only 2.5% per year. However, from January 1973 to January 1993 the median home price shot up to ~ $100,000, a whopping 370% increase for that 20-year period. Whereas, wages for the same 20-year period remained essentially flat. People used to be able to purchase a home for ~ 3-4 times their annual incomes. IOW, someone earning $9,000 in 1973 could afford to buy a home valued at $27,000. But with wages remaining stagnant and housing prices skyrocketing, many, if not most, families find themselves priced out of the housing market.
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From your neighbour to the south (Idaho), over the past 10 years, housing prices have gone up by nearly 300%. But this is due to massive internal immigration into Idaho from other states, such as California, Oregon, and Washington. The locals here in the Boise area are being priced out of the housing market, since prevailing wages haven't kept up with housing prices. A crash in the real estate market is inevitable, the only question being by how much. Cheers.
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@davidrieger8816 None of this is happening by accident. The design of the ruling class elites is to keep the rest of us “commoners” both poor and struggling to make ends meet. Makes the populace much more docile and easier to control. Billion$ for the bankers—debt$ for the people. Cheers, although there’s nothing to be happy about.
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