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Was the housing crisis caused by the Howard government’s policies?
(www.thenewdaily.com.au)
Some economic analysis that seems right. Great.
But what about a more philosophical approach? What does it mean to turn anything and everything into an investment market? Why do it at all and what are the basic trade offs and implications?
Turning our homes into a stock market on the face of it sounds outright dystopian to me. Stability, mobility, independence, basic welfare, private property incentives and even Australian nationalism against being bought out by foreigners. All of these values seem both to fly in the face of the idea of hot housing markets and to be obvious values worth caring about.
So what happened? Apart from corrupt politics, a good amount is boomer psychosis was at play I think … ‘all about “me” getting rich’.
I still find it hard to believe that a conversation or two didn’t happen about the fundamentals here!