patrick.net

I was reading the GI bill and veterans adjustment act of 1952 was the start of the American Dream of home ownership. A house cost was $18k and your salary was $12k and if you had a wife they would give you a 3 to 5 year mortgage to make housing more affordable. From then on till today the congress was bribed to make houses more affordable until that exact same 2 bedroom 900 square foot $18k structure here in the San Fernando Valley was selling for $750k in 2006.

I think we are heading back to those levels. With globalization, over regulation, over taxation, oligarch mafias running congress and the medical establishment, a billion dollars to start up a factory in the US, and 2 billion workers in China and India making 55 cents and hour with the few lucky making $3 per hour - we will see water seek its own level and return to 1952 levels. Only trade embargoes, tariffs, and mafia style barriers can stop it.

#housing