Good, fuck the real estate industry and all the misery it’s caused.
However I’m skeptical because so many of the ruling class own real estate that I can’t see them letting this happen. Bail outs will probably happen or some shit.
We already had the repeat of 2008 with regional banks failing. There was no huge crash because everyone was assuming that the government will just bail out the system. And they did, the Fed bailout facility for regional banks is at ~$1.2 trillion. Big banks got the healthy part of the regional banks for free, the government took care of the rest.
A real estate crash will be similar, but normal homeowners will (like in 2008) not be bailed out.
i mean you bail them out and then what, is the big question right?
a bank that fucked up is still a bank, you know. parasitic or not its still a part of the economy. an abandoned mall in the middle of nowhere stays a ruin. an entire industry of abandoned commercial buildings would need a national infrastructure plan to be converted into something useful. and that’s still a spiral of death.
you turn these into housing. aren’t there already more houses than needed in the US? are you gonna open the floodgates to get more migrants or are you gonna lock down that market even harder?
ultimately even a capitalist society has options you know, rational things that keep capitalism going. late stage seems to be the time when none of them are tenable.
I would normaly be like yeah for sure their geting a bail out but, I’m starting to think fincial capital has run its course, a lot of the bougi internal discourse is over restoring industrial capital and moving into some new ism, neoliberalism is dieing on the alter right now, globalization is evaporating to everyone’s suprize and the fincial capital returns are being to depressed as intrst rates spike, rent seeking is becoming less viable,
I’m willing to stick my neck out on this and say what ever new captlist ism that is coming next to being built right now but it will be like neoliberalism where it mutates out of Fordism. Here is my rub tho the profit rates are low accoss the board with reshoreing coming its possible the rent seeking nature of neoliberlism might get crushed out in this new mutation, like how high productivity got crushed out of fordism
But yeah they probley gonna get check in the mean time.
I’m betting the new ism they want is not going to be good and it certainly won’t be socialism :ohnoes:
True some of the set up they have done so far was geting ready to crush labor who is already crushed and mediating this issue by having less kids and lying flat or whatever its called, I think the investors are gonna see extra costs like paying for lay-out landlord making them pay their workers to pay them again fat to be culled. :marx-joker: they are also looking to run a deskilling campaign agnisy the pmc or white collage people, ask your self what is the end game of chat gpt types modeles its to deskill people and make education not a premium pay paper anymore. Their is a sick part of me being :nicholson-yes: as lived though the deindustralizaion peroid.
Maybe Big Finance wants a war with China to re-industrialize the US economy?
