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America's housing shortage is keeping home prices high
(www.axios.com)
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A lot of people here in the US have bought into this as their retirement strategy. The value needs to go up, so they can downsize and ride the leftover cash for the rest of their life. If the number doesn't go up, they can't retire. This forces otherwise normal people to become very, very, invested in ensuring real estate is an asset with value that outpaces what people can afford. It's a ponzi scheme.