That is not the whole picture, though. The state required the banks to provide mortgages to people who couldn't afford them.
The state also made the real estate exempt from capital gains tax. That, combined with low interest rates, will make the market speculative.
Then banks were bailed out after everything fell, which removes the incentives to be responsible because they will get bailed out next time.
It is easy to blame deregulation when you ignore other important factors.
misterjesus /
npub1mw…dp6t6
2023-08-31 11:17:42
in reply to nevent1q…xfpw
Author Public Key
npub1mw4xlygtqrx0x35wwd9jv75ve3yz33tqadlsarjrg6m78awyp37swdp6t6Published at
2023-08-31 11:17:42Event JSON
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