Quote:
Originally Posted by TheHonestMaple
That is a very basic understanding of economics if you think a housing crash is a good thing. Housing will be the last thing on your mind if housing prices crash - because it will literally mean that people aren't able to pay their mortgages so the supply of houses dramatically increases. If people aren't able to pay their mortgage its because they've lost their jobs. If they lost their jobs.... well you get it.
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Alright fine, but we can definitely have a lowering of the market - there is no reason a house has to cost a million dollars. Yes people somewhere will pay it - but still. I feel it should reflect the average income in the region, should it not? I've never bought a house, so I am admittedly ignorant on this subject. I am just curious.
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