> In many Western countries, housing is the best performing asset class so it's reached the point of stealing investment dollars that might otherwise go to productive output. Housing is the black hole at the heart of the economy.
This is true, and it is a huge problem in Europe for example, where buying a property to rent is often the best investment for regular people. So instead of opening a business or taking any other risk that may or may not pay off, investment money is going to an asset class that is not productive.
This is true, and it is a huge problem in Europe for example, where buying a property to rent is often the best investment for regular people. So instead of opening a business or taking any other risk that may or may not pay off, investment money is going to an asset class that is not productive.