Housing is a massive bomb because for so many people is is the singular investment that their net worth and retirement is held in. This idea has been so deeply entrenched for so long that a reversal will wipe out millions of people's net worth.
At some point the bomb will go off, but there's no incentive to look at the long term of 10+ years out when the explosion will destroy people's political careers in the short term.
At some point the bomb will go off, but there's no incentive to look at the long term of 10+ years out when the explosion will destroy people's political careers in the short term.