>We have a housing shortage. As long as it looks like the shortage will continue, investors--people--will buy depreciating assets in the hopes that population growth will cause them to be worth more tomorrow than they are today
This is the most interesting point. With the current birthrate, what will these homes be worth in 30, 40 years, when depopulation is ongoing? Prices will drop, and so will supply. Look to Japan, deaths of all towns that are not major cities, I expect that to occur in the US
Yes, in 50 years, I hope we as a society respond to the struggles of people then too, instead of nit picking our way to destroying an entire two generations ability to build wealth like we have done here.
This is the most interesting point. With the current birthrate, what will these homes be worth in 30, 40 years, when depopulation is ongoing? Prices will drop, and so will supply. Look to Japan, deaths of all towns that are not major cities, I expect that to occur in the US