{"id":33314,"date":"2018-04-11T06:16:11","date_gmt":"2018-04-11T11:16:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33314"},"modified":"2018-04-11T06:16:11","modified_gmt":"2018-04-11T11:16:11","slug":"economists-who-push-inflation-stunned-that-rising-home-prices-put-buyers-deeper-into-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33314","title":{"rendered":"Economists Who Push Inflation Stunned That Rising Home Prices Put Buyers Deeper Into Debt"},"content":{"rendered":"
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Economists Who Push Inflation Stunned That Rising Home Prices Put Buyers Deeper Into Debt<\/a><\/span><\/h3>\n<\/div>\n
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Once again, when the government intervenes \u2013 this time in housing \u2013 the left hand is starting a fire that the right hand is trying to put out.Rising prices for homes are once again pricing out prime borrowers and nobody can “figure out” why this is happening.<\/strong><\/p>\n

It is news like this article<\/a>\u00a0reported this morning by the Wall Street Journal that continues to perpetuate the hilarious notion of Keynesian\u00a0economics as giving a job to one man digging a hole and another job to another man filling it, simply so that they both have jobs.<\/p>\n

There is nothing funnier (or sadder) than “economists”\u00a0struggling to understand how housing prices got so high and why people are taking on more debt in order to purchase them.<\/strong> However, that is the great mystery that the Wall Street Journal reported\u00a0on Tuesday\u00a0morning, making note of the fact that people are \u201cstretching\u201c in order to purchase homes. What’s the solution to this problem? How about just easing lending standards again? After all, what could go wrong?<\/p>\n

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Apparently blind to the obvious\u00a0\u2013 that forced inflation could amazingly make things more expensive relative to income \u2013 “economists” have hilariously blamed this price\/debt delta on lack of supply<\/em>. <\/strong>Of course, no one has mentioned the credit worthiness of borrowers getting worse or the fact that homes prices are being manipulated in order to offer home ownership to people who otherwise may not be in the market.<\/p>\n

More Americans are stretching to buy homes, the latest sign that rising prices are making homeownership more difficult for a broad swath of potential buyers.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Economists Who Push Inflation Stunned That Rising Home Prices Put Buyers Deeper Into Debt Once again, when the government intervenes \u2013 this time in housing \u2013 the left hand is starting a fire that the right hand is trying to put out.Rising prices for homes are once again pricing out prime borrowers and nobody can […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18212,2085,1583,426,467,480,488,861,4318],"class_list":["post-33314","post","type-post","status-publish","format-standard","hentry","category-economics","tag-easing","tag-economists","tag-housing","tag-inflation","tag-keynesian-economics","tag-lending","tag-loans","tag-wall-street-journal","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33314"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33314\/revisions"}],"predecessor-version":[{"id":33315,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33314\/revisions\/33315"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}