sourcery(@sourceryy):David @friedberg says the "great lie of the 20th century" was convincing people to put all of their net worth into one asset: their home. "When you do that, then the only way to keep Americans wealthy or keep the middle class stable is to keep the price of homes going up." "And that ultimately leads to a point in time today where young people can't afford those super expensive homes." "Back in the day, 30-40 years ago, if you got a good job, you could buy a home." "Today, because we made everyone put all of their net worth in their home, and therefore we had to keep home prices going up to keep everyone's net worth going up, people got screwed."

2026.07.23 16:41

David @friedberg says the "great lie of the 20th century" was convincing people to put all of their net worth into one asset: their home. "When you do that, then the only way to keep Americans wealthy or keep the middle class stable is to keep the price of homes going up." "And that ultimately leads to a point in time today where young people can't afford those super expensive homes." "Back in the day, 30-40 years ago, if you got a good job, you could buy a home." "Today, because we made everyone put all of their net worth in their home, and therefore we had to keep home prices going up to keep everyone's net worth going up, people got screwed."