[voisin]

> The goal is to crash house prices as far down as they possibly can be crashed.

Then you will create a problem 10 years down the road where there has been massive underinvestment in new housing stock.

The solution is to increase interest rates so there is actually an opportunity cost to money, which will cause people to stop making horribly performing investments in real estate. In Canada, we are already seeing the dramatic effect of a few paltry rate hikes exposing the cracks in this confidence game. Another 150-200bp and house prices will no longer be in the headlines.

Governments would love us all to blame AirBNB and housing investors, but this bubble isn’t limited to housing - we have been in the “everything bubble” and it is due to loose monetary and fiscal policy for too damn long. Shame on them.