(ANTIMEDIA) —Most people haven’t studied economics and don’t understand the contributing factors that led to the Great Recession, so they still view the Federal Reserve as a hero that saved the country from total collapse. But those who are informed understand that the financial bubbles seen over the last 20 years have been directly caused by reckless central bank intervention in the markets.
In 2013, 1 out of every 10 American homes was valued at more than double the production costs. Demand for housing alone isn't driving up costs, because if it was we would expect high cost places to also have high levels of construction. So why is the cost of housing so high?
Without the freedom to spend the fruits of our labor wherever we so choose, we cannot consider ourselves truly free. If millennials choose to buy avocado toast instead of a home, this is not only completely acceptable, it is exactly what makes the free market so wonderful; no one has to buy something unless they want to.
President Trump and Commerce Department leader Wilbur Ross are set to hit Canada with a 24% tariff on lumber. The result of which will be 150,000 consumers priced out of the housing market and a loss of 8,241 homebuilding jobs.
(ZHE) In hopes of promoting the narrative of a US housing recovery, one recurring thesis has been that as Millennials get older and start families, they will eventually leave their parents’ basement and buy a house or shift from renting to owning.
Inflation is out of control.
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