There’s an odd conflict in the automatic assumptions of media about prices. Media assumes that everyone wants lower gas prices and food prices. At the same time, media assumes everyone wants higher house prices and stock prices.
Polls agree that 3/4 of Americans want lower house prices, ESPECIALLY the younger generations. This makes EXTREMELY GOOD SENSE. When all prices are mansion prices, youngsters are solidly stuck in rentals or sharing arrangements.
But websites and podcasts, including those clearly aimed at Gen Z, consistently and universally treat the slight decrease as a “housing crash” and a horrible disaster. They also treat higher interest as a disaster.
Very few ordinary people benefit from expensive real estate and zero interest. Older folks (like me) have already paid off our mortgages and have no desire to sell. High appraised value means nothing more than high property taxes.
Later: I guess this pretty much fits inside the general observation that social media is the OPPOSITE of an echo chamber. We’re supposed to believe that media is bad because it reinforces our existing needs and desires. Nope. Media is bad because it FORCES the needs and desires and COMMANDS of demons, and it tells us that the COMMANDS of demons are our natural inclinations.
One of Kirn’s commenters quoted an old Soviet joke that I hadn’t heard before:
A Russian and an American get on a plane in Moscow and start talking. The Russian says he’s heading for America to learn American propaganda techniques.
“What American propaganda techniques?” asks the American.
“Exactly,” the Russian replies.