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100% agree. For example, theoretically a housing crash will lower prices. But it won't because hedge funds will come in a swoop up all the houses so that people become renters. The 0.1% won't be happy until everyone is giving them money every day for something that they own a part of.

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US housing, especially in its most fungible form, the single-family house, is probably the most favored asset class in the history of human civilization. Act accordingly, and expect others to act accordingly. Expect others to act accordingly when you try to break that.

Unfortunately, housing the investment business only looks like , and often moonlights as, housing-housing.

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