nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe Do you think that represents the amount of wealth being stuffed into the housing market to preserve wealth. How do we calculate the utility value in today’s dollars?
Discussion
FAR more complicated than that - all of these prices should be a fraction of what they were in 1944 if technology and free markets were allowed to function. So it also represents larger misallocated capital, government expansion, the rise of dictators, exponential rise in global debt, etc, etc.
Impossible to measure what you asked for through existing system of dollars but Bitcoin (as long as it stays decentralized and secure) IS pricing the first global free market ever seen.
Whoops, I meant to ask specifically about the growing ratio of income to avg home prices. But your response all still applies😎
I’m excited, but nervous for the repricing.