Of course there weren’t any iPhones or XBoxes in 1975 . Some things are absolutely better and more affordable. But it should be noted that many if not most of the things which make our lives better come from the (mostly) unregulated tech sector. The market makes things better for the middle class. It’s a MARKET. The drive is always toward lower prices and higher quality. That is if the market is allowed to work, and usually it’s not.
Perhaps Mr. Moore should donate 7 of his 9 houses to the homeless. It only seems fair.
Nine. I wonder what Mr. Moore’s carbon footprint is?
Why would house prices go up while real wages go down?
The first real percolation in the housing industry in the USA, post first bubble, was in Washington DC and New York City. Why? Because that is where the Federal Reserve spigots are. Newly printed money flowed through the system to government contractors and bankers first. Manhattan and DC real estate barely saw the recession, the crony capitalists did quite well over the last 5 years.
Most news stories take this for granted. They shouldn’t.
I can attest to this. I live outside of Washington DC and houses are moving. This is the land of guaranteed employment and home to the wealthiest households on average in the United States. The main reason? The primary industries here are regulation, wealth extraction, and war. “Growth” industries as of late.
To buy or not to buy? New regs just muddy the water more.
If one makes over $200,000/year and if one realizes at least $250,000 in gains if single or at least $500,000 if married, on the sale of a home, one gets to pay (an additional) 3.8% to the federal government.