[the_gastropod]

Yeeep. It feels like one of those “holding a wolf by the ears” situations. I don’t know how we get out of this mess.

One especially frustrating part of it is that it really benefits nobody. Your home goes up in value, cool. You owe more property taxes. And all the other homes around you also go up in value, so… you’re really no better off unless you downsize or move to a cheaper housing market.

Something akin to Georgism seems like the correct answer. But how you get there from here? Beats me!

[john01dav]

One option is to get home prices to stop rising faster than wages by having wage growth speed up while real estate value growth slows down (not necessarily becoming negative). Then, no one is underwater on their mortgage, but buying a house becomes more accessible year over year. Of course, you'll need to eventually stop to address the normal problems with deflation, or address those in some other way.

What specific policies achieve this is also a separate question.

[littlexsparkee]

I don't see how home values could hold up with white collar work threatened over the coming years. Anyone's guess as to the timing but tech is aiming at this full force - what else has equivalent TAM? It's too big a prize to discount in the longterm.