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| Mark Hanson has done the work |
In a valuable report from Mark Hanson, housing is unaffordable.
What happened recently, everyone is asking and debating. Growth happened, we attempted and sustained second gear in the USA. That is why EM money came back.
What caused the growth?
The regime change in government spending, government re-alignment, tax alignment, sequestering, and budget debates; caused, indirectly by California voters and their Guv, Jerry, give the guy credit. All of government, including DC, needed his austerity, or the state was bankrupt, simple enough. Its the hegemon effect, accelerated by the Undemocratic party.
Why does growth make housing unaffordable?
Ungrowth, from DC. Our central government has an accelerator, the rollover problem. When growth happens, the interest expense surge is large, relative to plan and causes a constant, and expensive readjustment to already inefficient planning.
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