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smooth_remmy | 5 years ago

You can absolutely have a strong economy when housing has crashed.

Housing crashed = cheaper housing = more labor mobility = labor can spend more money on their "higher level needs" like eating at restaurants or elective medical care or online shopping.

Would you say "you cannot have a strong economy while the food prices have crashed"? Obviously not, lowered food prices would be seen as a good thing by everyone.

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blaser-waffle|5 years ago

> Obviously not, lowered food prices would be seen as a good thing by everyone.

Until the companies providing the food go out of business. Or get bought out by foreign firms with no incentive to provide good food or service, e.g. Tim Hortons (owned by burger king, which is in turn owned by a Brazilian firm).