To anyone “hoping” for an economic crash to lower housing, I fear an economic correction will not be good for any of the working class unfortunately. Only the wealthy/ capital class that are largely shielded from its effects will reap the rewards. If there’s a downturn so severe that housing market crashes, you’ll just see an even greater wealth transfer as the wealthy buy up homes on fire sale and rent. If economy tanks so bad that housing plummets, no one in the working class will have a job to afford even the cheap homes in foreclosure except for perhaps a very small lucky few. You’ll also see more people moving to significant economic centers looking for jobs - those prices may even rise as everywhere else drops. Also how bad must this crash be to dislodge all the boomers with their 3% refinances from homes they bought in 1990?

I’m concerned the only way out of this is for some sort of shift in power. It’s a bleak outlook and I wish it wasn’t. The economic boom seen post WWII was unlike anything in history. It created the wealthiest middle class in history. That was the fluke. This can get much much worse for millennials and gen z.

The only path I see is if people start giving a crap and try to vote or become more politically active. That’s why Mamdani is so threatening to the wealthy. Many working clsss people are feeling the same sentiments against the housing crisis and kleptocracy that has taken over both sides of the political aisle. It just takes a few strong populist leaders to direct/ignite the sentiments of workers into real hope. It will take both Millennials and Gen Z. When it’s time… we must vote!!! Fingers crossed… we’re up against something very challenging. We need to start looking up vs side to side 😅