I spend a lot of time hearing 50+ year old economists say, falling home prices will create financial instability for a generation…
… and I spend a lot of time explaining, instability for a generation is already here. You just don't care, because it's not your generation.
— Stephen Punwasi (@StephenPunwasi) February 5, 2021
Boomer economists are just remarkably clueless. It’s multiplicative cluelessness.