[entropicdrifter]

This makes sense in a world where the market adjusts rationally and there's an unbroken chain of people from different levels of wealth who can afford to buy houses. Unfortunately in the US right now, that is not reflective of the present scenario due to the immense generational wealth gap and housing bubble.

[pwarner]

But that's a supply problem. Create the supply, prices will drop and that bubble and generational wealth challenge begins to heal.

[entropicdrifter]

The US has 28 empty homes for every homeless person.

It's a market manipulation problem that's not going to go away for as long as we maintain the perverse incentive of using real estate as an investment vehicle. Japan has never had this problem and likely never will because housing depreciates in value there like cars. A 30-year-old house is often worthless or near-worthless in Japan.

[morkalork]

And in Canada there is a huge amount of backlogged demand. There are areas where rental listings for roommates show two beds to a room and 10 people crammed into a house. Unwinding that is going to take a long time.