The Rising Influence of Rising Affluence

[oldberkeley]

It's probably too late as government is so entrenched in our society to turn back. From 1783 to 1917 the USA went from a 3rd world country to a super power with little government.

I already commented on what IMO is a false dichotomy between government and society in #msg-7307104 & #msg-73106197.

For all intents and purposes, both currently and throughout recorded history, they are synonymous. Even animals—from insects and fish to those quarrelsome mammalian primates—have a form or system of rule that regulates the community.

I suppose a microbiologist could say that amoeba have government.

Anyway, speaking as someone who has spent most of their life involved with real estate, a normal housing market is basically one where supply and demand maintains a reasonable balance. It always cyclically flip-flops; there are regional, state, and even city anomalies; price range matters. But very much in general, houses are like any other commodity: there’s usually just the right amount of widgets for the widget buyers.

What is completely screwing up the natural order of things in the world of real estate is the insane amount of foreclosures on the market. That problem must be solved to return the housing market to normalcy.

How? Beats me.