What has to happen is 25+ years of credit based inflation needs to be cleared, which was not allowed to happen after the 2000 tech boom bust and the 2008 mortgage fraud bust. All that bad credit was papered over by even more credit, at lower rates.
It is going to hurt, A LOT, because the losses of 2000 and 2008 were never allowed to happen. House prices need to fall 50% or more, and home owners are going to have to eat those losses, and we all know who is going to eat most of that: boomers.
This is entirely fitting, because those fucking leeches deserve it.
What has to happen is 25+ years of credit based inflation needs to be cleared, which was not allowed to happen after the 2000 tech boom bust and the 2008 mortgage fraud bust. All that bad credit was papered over by even more credit, at lower rates.
It is going to hurt, A LOT, because the losses of 2000 and 2008 were never allowed to happen. House prices need to fall 50% or more, and home owners are going to have to eat those losses, and we all know who is going to eat most of that: boomers.
This is entirely fitting, because those fucking leeches deserve it.
Nah, they'll just die due to spite rather than take a loss, and an to burn down all their properties in their will as one final act of fuckery.