XavierL

David Friedberg says the greatest lie of the 20th century was putting all your net worth in your home "When you do that, then the only way to keep Americans wealthy and to keep the middle class stable is to keep the price of homes going up, because that’s the only asset." “So if you want your net worth to go up every year, they need to have policies that drive the price of homes up every year. That ultimately leads to a point where we're at today where young people can’t afford those super expensive homes." “Back in the day, 30, 40 years ago, you got a good job, you could buy a home. Today, because we made everyone put all of their net worth in their home and we had to keep home prices going up, people got screwed." “So these are the fundamental issues, the mistakes that were made over the last couple of decades that lead to this great socialist wave that’s underway right now.”