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Lots of stuff that's missed in here. For example, the idea that interest rates need to go down wasn't challenged. If you've followed my posts on the housing situation before, you know in a lot of places its illegal to build a condo in a place where housing is sky high. They call this "Zoning" and the people who lobby their government to implement such rules are known as "NIMBY"s. Which stands for "Not in my back yard" Not what in my back yard? Well apparently, multi-family housing will cause the NIMBY's single family home's property value to go down.

That's just the biggest flaw I wanted to point out, obviously a lot more wrong with it, but it gives you an idea of what the average person thinks about these things.