Eaglelord17
Army.ca Veteran
- Reaction score
- 1,746
- Points
- 1,040
So do you believe we have a free market economy, or do you believe we have controls on it? Either our current system is Socialist as we have restrictions on who the banks can lend money to, restrictions on how you buy homes, etc. or it isn't (and the answer is it isn't as a Socialist housing system would be more like what Nunavut has on the go).I think there is also something to be said for a free market economy, and the ability for people to manage their wealth ( Even if it is in the form of home equity).
Look at the interest rates, we should be at about 5% right now, not .25%, that is direct market manipulation. That alone would be enough to cause the housing market to cool off very quickly. But the precious economy would have to function as it should and punish those who overreached.
There is a distinct issue with the housing market, not found in pretty much any market other than the food market, and that is that it is a necessity of life. For that whole reason there needs to be reasonable controls on it.