From the New Deal to the late 90's, the real estate market in America was pretty much the same with very little fluctuation. Then in the early 2000's the banks started giving mortgages to people who should never have had them. The bubble burst in 2007 and nearly took the financial market with it.
What everyone expected was that real estate would return to the pre-housing bubble state that we are all familiar with.
What is happening instead is something very different.
We appear to be drifting to a pre-New Deal real estate market. A market where regular working class families are priced out and the wealthy elite are the landlords.
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