"Now are seeing major price cuts homes getting delisted because they can't sell. Almost every real estate broker is having conversations with home sellers about when you're gonna mark this property down so we can get it to move." - Redfin CEO on the state of the real estate market

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So you are trying to fix a problem that the government created by too much intervention, ie fiat debasement, manipulated historically low interest rates, and mortgages that are guaranteed by the Federal government with more government intervention?

There's actually a much simpler solution to bring down prices:

Asset managers with over $100 billion can't buy single family homes. Blackrock for example just buys them up and rents it back to us 🤣

Just had this discussion with my broker two days ago about an asset.

it's a solid point. rates don't reduce the premium b/c it's not a purely financial instrument (yet it is capitalized as if it's SoV).

I think the land value tax might help mitigate this illiquidity (more emotional distribution).

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