From real estate to finance
PS: Another thought about real estate: Without a doubt, affordable housing and the building of it, were a driving force in creating the US economy from 1950 right up to 2006. But now even with low interest rates and the number of people that would like to have a home, there simply aren’t the jobs or the income to support a thriving housing market.
Did you notice that BlackStone was buying up around 30,000 houses to rent out? To me, that does not indicate a strong housing market.
You only get a strong housing market when people have a job and are comfortable in their situation so that they are willing to sign on the dotted line.
With 92 million Americans out of the work force, they cannot do that. Sad indeed…