Pretty soon we’ll have something like a decade of experience in losing our innocence about housing affordability. Isn’t it about time we got over it?
For a good part of the last century, we trained generations of housing consumers and housing enablers to buy and sell into what Chuck Marohn calls a “growth Ponzi scheme.” It was fun while it lasted, allowing a lot of us to postpone paying the tab for our delusions to some unspecified date in an imaginary future. Then we got to the real future.
