Lest we forget, back in 2007 a property bubble bursting caused The
Global
Financial
Crisis.
Property bubbles are fools gold, they are a mirage of wealth because they are just a Ponzi scheme reliant on people selling houses back and forth to each other for ever increasing amounts of money / ever increasing amounts of debt. They drive inequality, lock future generations out of owning a necessity of life (shelter), and are a clear and present danger to national economies and indeed the global economy and monetary system itself.
Anyone celebrating a property bubble is probably a greedy fool who is prepared to risk our financial stability for the opportunity to partake in a glorified Ponzi scheme.
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