@mortimer_1 To be fair: (1) The goal of aggressive hikes is to facilitate near term easing, (2) the long-term trajectory rates IS down, and (3) The duration of peak to trough to peak pricing adjustments has never been longer than seven years, even through the severe 1982 recession.
@supervillian07@hmacbe One thing I know for certain is that at at every top AND bottom, the great, stupid, unwashed masses all say the same thing every single time: “THIS TIME ITS DIFFERENT!” It’s like they feel they are 1st to ever to have this completely unoriginal thought and they’re always wrong.
@decarling_rls Developers don’t hold significant chunks of unproductive land. That’s not how the business works despite what you see in the papers. It’s a concept right up there with ‘shadow flipping’ and ‘money laundering’ in real estate.