By Charles Hugh Smith
OfTwoMinds.com
June 5, 2026
Those seeking housing as shelter cannot compete with wealthy households and entities seeking places to park credit-generated capital for income and/or appreciation.
This will get massive pushback because it's true: either Housing Is Shelter, or Housing Is Just Another Asset in a Bubble Economy-it can't be both. This reality gets pushback because the conversion of housing from shelter into just another asset bubbling higher in a bubble-dependent economy has been so profitable for those inflating the bubble.