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Comment Loss of perspective... (Score 1) 396

... also applies to the ever spiraling price of a house. People pay more because other people do, and they all end up desperate to hold a job to service their ever-growing debt. Thus it becomes the new normal.

The only way to stop it is to not participate, and get others to stop participating. It's daunting to convince people against what almost all of their peers are telling them right now, but I think it can snowball, and get easier over time.

We can fix it this way, or wait for the bloody, destructive revolution that will ensue when people are pushed past the breaking point.

The only function of economic forecasting is to make astrology look respectable. -- John Kenneth Galbraith