This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/526806-us-housing-market-speculation/
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Real estate speculators gambling on US inequality getting worse, Professor Wolff tells RT’s Boom Bust | Real estate speculators gambling on US inequality getting worse, Professor Wolff tells RT’s Boom Bust |
(2 months later) | |
Could the US housing bubble pop like it did in 2008? Professor Richard Wolff shares his analysis of the ongoing housing boom, and what the effects of the hot market could be. | Could the US housing bubble pop like it did in 2008? Professor Richard Wolff shares his analysis of the ongoing housing boom, and what the effects of the hot market could be. |
He tells Boom Bust that when it comes to the issue of housing, inflation is “very extreme” in a number of countries, with price movements similar to those seen before the real estate market collapsed back in 2008. | He tells Boom Bust that when it comes to the issue of housing, inflation is “very extreme” in a number of countries, with price movements similar to those seen before the real estate market collapsed back in 2008. |
“The problem now is the big speculators – Wall Street banks, venture capital outfits, equity investors – all in there, buying record numbers of housing wherever they think they are going to make a killing,” the host of Economic Update explains. “They are gambling, correctly, I believe, that American inequality is getting worse, that therefore the number of Americans that can afford housing, even before you take into account the rising prices, is a falling number. And that therefore people will not be buying the way they once did, they will be renting because they have to.” | “The problem now is the big speculators – Wall Street banks, venture capital outfits, equity investors – all in there, buying record numbers of housing wherever they think they are going to make a killing,” the host of Economic Update explains. “They are gambling, correctly, I believe, that American inequality is getting worse, that therefore the number of Americans that can afford housing, even before you take into account the rising prices, is a falling number. And that therefore people will not be buying the way they once did, they will be renting because they have to.” |
For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
Dear readers and commenters, | |
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
Sorry for the inconvenience, and looking forward to your future comments, | |
RT Team. |