Do you think that the government can prevent a second housing bubble from forming or do you think that they will repeat the same mistakes?
By @jacewat
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The simple answer to this question would be no because we are already falling into the next housing bubble. While the market today is considered a seller's market, this is leading to the fact that the only people who buy are other relators or people with high amounts of wealth looking to rent. This is eerily leading to the idea that one day all homes will either be only for rent or will be a form of an air B&B. The government in my opinion has no expectation of stopping this bubble from occurring because they have a continual habit of blaming the general public for not effectively saving or working hard enough to make a steady income in order to purchase a home. They have allowed rent to skyrocket by 1000% from the 1950s to 2021, this comes from the U.S. Bureau of Labor Statistics. While the minimum wage has only increased from $.75 cents to $7.25, that is own a 162% increase. By no means is that a logically increase ratio compared between the two. Many people in the 1950s were able to fund a family of four with only one parent working and having a house and car. The government has openly allowed this divergence to occur with little intention of effectively closing the gap to allow common people the afford a decent living. While many would argue that working minimum wage should not be a career, that contradicts the original point of minimum wage. It was supposed to be a livable amount that allowed everyday people who were not able to obtain higher education to survive. Without minimum wage workers, a majority of society's favorite places would no longer exist.