--- title: "Meaning & Key Takeaway of: Everybody would be better off if they…" description: "\"Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income. That used to be the case..." image: "https://sms4smile.com/quotes/i/5c6/michael-hudson-2134_better-off_everybody-would-be-better-off-if-they-co_1212433.jpg" --- # Everybody would be better off if they could buy housing… ![“Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income. That used to be the case 50 years ago. Buyers had to save up and make a higher down payment, giving them more equity - perhaps 25 or 30 percent. But today, banks are…” quote by Michael Hudson](https://sms4smile.com/quotes/i/5c6/michael-hudson-2134_better-off_everybody-would-be-better-off-if-they-co_1212433.jpg) [Download](https://sms4smile.com/quotes/i/5c6/michael-hudson-2134_better-off_everybody-would-be-better-off-if-they-co_1212433.jpg) [Open image](https://sms4smile.com/quotes/i/5c6/michael-hudson-2134_better-off_everybody-would-be-better-off-if-they-co_1212433.jpg) > “Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income. That used to be the case 50 years ago. Buyers had to save up and make a higher down payment, giving them more equity - perhaps 25 or 30 percent. But today, banks are creating enough credit to bid up housing prices again.” [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Housing affordability has declined as banks expand credit, raising prices and reducing the ability for buyers to secure low‑cost homes, unlike decades ago. **In simple terms:** Credit expansion drives up housing costs, hurting buyers. Key Takeaway Advocate for policies that limit speculative credit in housing. Themes housing market affordability credit policy Mood concerned analytical Type policy economic When to use this quote - home buying - policy reform - financial education Key Concepts speculation equity building income ratios Questions to Reflect On - How can we balance credit availability with affordability? - What alternatives exist for first‑time buyers? A Different Perspective Restricting credit may limit overall economic growth. ★ ★ ★ ★ ★ No ratings yet [Ago Buyers](https://sms4smile.com/quotes/about/ago-buyers-3681143/) [Better off](https://sms4smile.com/quotes/about/better-off/) [Buy Housing](https://sms4smile.com/quotes/about/buy-housing-3681141/) [Buyers](https://sms4smile.com/quotes/about/buyers/) [Buyers Save](https://sms4smile.com/quotes/about/buyers-save-3681142/) [Cases](https://sms4smile.com/quotes/about/cases/) [Creating](https://sms4smile.com/quotes/about/creating/) [Credit](https://sms4smile.com/quotes/about/credit/) [Enough](https://sms4smile.com/quotes/about/enough/) [Equity](https://sms4smile.com/quotes/about/equity/) [Giving](https://sms4smile.com/quotes/about/giving/) [Higher](https://sms4smile.com/quotes/about/higher/) [Housing](https://sms4smile.com/quotes/about/housing/) [Housing Prices](https://sms4smile.com/quotes/about/housing-prices-921801/) [Ifs](https://sms4smile.com/quotes/about/ifs/) [Income](https://sms4smile.com/quotes/about/income/) [Payment](https://sms4smile.com/quotes/about/payment/) [Percent](https://sms4smile.com/quotes/about/percent/) [Quarters](https://sms4smile.com/quotes/about/quarters/) [Today](https://sms4smile.com/quotes/about/today/) [Used](https://sms4smile.com/quotes/about/used/) [Used to be](https://sms4smile.com/quotes/about/used-to-be/) [Would be](https://sms4smile.com/quotes/about/would-be/) [Years](https://sms4smile.com/quotes/about/years/) [Years ago](https://sms4smile.com/quotes/about/years-ago/) ## Related quotes > [The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really…](https://sms4smile.com/quotes/michael-hudson/the-myth-is-that-if-housing-prices-go-up-americans-will-be-richer/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [When you feel house poor, you don't buy anything. Housing immediately impacts the job numbers because there are so many housing-related jobs within the…](https://sms4smile.com/quotes/mellody-hobson/when-you-feel-house-poor-you-don-t-buy-anything-housing-immediately/) [Mellody Hobson](https://sms4smile.com/quotes/author/mellody-hobson/) > [Actually, high housing prices don't help the economy. They raise the cost of living.](https://sms4smile.com/quotes/michael-hudson/actually-high-housing-prices-don-t-help-the-economy-they-raise-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [“The simple measure of sanity in housing prices, Zelman argued, was the ratio of median home price to income. Historically, in the United States,…](https://sms4smile.com/quotes/michael-lewis/the-simple-measure-of-sanity-in-housing-prices-zelman-argued-was-the/) [Michael Lewis](https://sms4smile.com/quotes/author/michael-lewis/) > [Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or…](https://sms4smile.com/quotes/bill-gross/americans-now-know-that-housing-prices-can-go-down-and-they-can-go/) [Bill Gross](https://sms4smile.com/quotes/author/bill-gross/) > [Funny money has always been the reason housing prices have risen too fast. First, it was liar loans and negative-amortizing mortgages, where the total…](https://sms4smile.com/quotes/glenn-kelman/funny-money-has-always-been-the-reason-housing-prices-have-risen-too/) [Glenn Kelman](https://sms4smile.com/quotes/author/glenn-kelman/) > [The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on…](https://sms4smile.com/quotes/thomas-sowell/the-government-has-brought-on-the-housing-problem-partly-by-these/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [We all know that housing prices are going up, but what most people don't realize is that this has become a family problem. Housing…](https://sms4smile.com/quotes/amelia-warren-tyagi/we-all-know-that-housing-prices-are-going-up-but-what-most-people-don/) [Amelia Warren Tyagi](https://sms4smile.com/quotes/author/amelia-warren-tyagi/) > [Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're…](https://sms4smile.com/quotes/henry-paulson/until-we-stem-the-housing-correction-until-the-biggest-part-of-that/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [“Dublin housing prices are a lot like New York ones, except that in New York, you get New York for your money.”](https://sms4smile.com/quotes/tana-french-the-likeness/dublin-housing-prices-are-a-lot-like-new-york-ones-except-that-in-new/) [Tana French The Likeness](https://sms4smile.com/quotes/author/tana-french-the-likeness/) > [For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from their houses.…](https://sms4smile.com/quotes/michael-hudson/for-many-people-the-mortgages-they-took-out-before-2008-are-so-high/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Some ticket buyers think they don't like Jews.](https://sms4smile.com/quotes/jack-l-warner/some-ticket-buyers-think-they-don-t-like-jews/) [Jack L. Warner](https://sms4smile.com/quotes/author/jack-l-warner/) > [As part of our ongoing series of reports on the environment, 'America Goes Green,' we take on the question that can make otherwise competent…](https://sms4smile.com/quotes/brian-williams/as-part-of-our-ongoing-series-of-reports-on-the-environment-america/) [Brian Williams](https://sms4smile.com/quotes/author/brian-williams/) > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I would like to see a lot more buyers and also a lot less bargaining by local buyers.](https://sms4smile.com/quotes/nandita-mahtani/i-would-like-to-see-a-lot-more-buyers-and-also-a-lot-less-bargaining/) [Nandita Mahtani](https://sms4smile.com/quotes/author/nandita-mahtani/) ## More by Michael Hudson > [Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the…](https://sms4smile.com/quotes/michael-hudson/europe-is-creating-the-flight-of-refugees-that-s-tearing-it-apart/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in…](https://sms4smile.com/quotes/michael-hudson/this-is-not-really-currency-that-circulates-it-s-like-the-old-joke/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.](https://sms4smile.com/quotes/michael-hudson/nobody-prefers-to-earn-income-any-more-because-that-s-taxable-rich/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Nothing could be better for the economy than to get rid of fracking.](https://sms4smile.com/quotes/michael-hudson/nothing-could-be-better-for-the-economy-than-to-get-rid-of-fracking/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's…](https://sms4smile.com/quotes/michael-hudson/if-you-end-internet-neutrality-and-permit-mergers-of-the-big/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening…](https://sms4smile.com/quotes/michael-hudson/deflation-means-a-slowdown-of-income-growth-markets-shrink-new/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [What's bad for the frackers usually is good for the rest of the world.](https://sms4smile.com/quotes/michael-hudson/what-s-bad-for-the-frackers-usually-is-good-for-the-rest-of-the-world/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to…](https://sms4smile.com/quotes/michael-hudson/you-could-say-that-the-vote-to-withdraw-from-europe-is-it-s-really-a/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Actually, high housing prices don't help the economy. They raise the cost of living.](https://sms4smile.com/quotes/michael-hudson/actually-high-housing-prices-don-t-help-the-economy-they-raise-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are…](https://sms4smile.com/quotes/michael-hudson/when-economists-speak-of-money-they-neglect-that-all-money-and-credit/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their…](https://sms4smile.com/quotes/michael-hudson/the-united-states-and-europe-are-in-a-state-of-debt-deflation-where/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top…](https://sms4smile.com/quotes/michael-hudson/on-the-flat-tax-the-more-you-compress-the-tax-rates-the-more-you/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit.…](https://sms4smile.com/quotes/michael-hudson/income-is-sucked-upward-to-the-creditors-who-then-foreclose-on-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter from taking…](https://sms4smile.com/quotes/michael-hudson/debtor-countries-may-postpone-the-inevitable-by-borrowing-from-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately it can't…](https://sms4smile.com/quotes/michael-hudson/no-price-is-too-high-to-pay-to-try-to-make-the-financial-system-go-on/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) [Explore all 184 Michael Hudson quotes ](https://sms4smile.com/quotes/author/michael-hudson/) ## More Better off quotes > [Market society is a game where you win by making sure other people are better off with you than without you.](https://sms4smile.com/quotes/david-schmidtz/market-society-is-a-game-where-you-win-by-making-sure-other-people/) [David Schmidtz](https://sms4smile.com/quotes/author/david-schmidtz/) > [We know, Southern men declare that their slaves are better off than hired laborers amongst us. How little they know, whereof they speak! There…](https://sms4smile.com/quotes/abraham-lincoln/we-know-southern-men-declare-that-their-slaves-are-better-off-than/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [When you are poor, you'll have to think of ways to be better off.](https://sms4smile.com/quotes/zong-qinghou/when-you-are-poor-you-ll-have-to-think-of-ways-to-be-better-off/) [Zong Qinghou](https://sms4smile.com/quotes/author/zong-qinghou/) > [You're better off owning 30 percent and having two amazing partners who compliment you and are equally as driven as you are than having…](https://sms4smile.com/quotes/rob-dyrdek/you-re-better-off-owning-30-percent-and-having-two-amazing-partners/) [Rob Dyrdek](https://sms4smile.com/quotes/author/rob-dyrdek/) > [If you’d just center your thoughts and affections upon the Lord, you’d be better off accidentally than you’ve ever been on purpose!](https://sms4smile.com/quotes/andrew-wommack/if-you-d-just-center-your-thoughts-and-affections-upon-the-lord-you-d/) [Andrew Wommack](https://sms4smile.com/quotes/author/andrew-wommack/) > [24.9 percent of American children live in poverty, while the proportions in Germany, France and Italy are 8.6, 7.4 and 10.5 percent. And once…](https://sms4smile.com/quotes/will-hutton/24-9-percent-of-american-children-live-in-poverty-while-the/) [Will Hutton](https://sms4smile.com/quotes/author/will-hutton/) > [There definitely was a time when I was pretty obsessed with my weight, but I'm better off not stressing about my body all the…](https://sms4smile.com/quotes/hilary-duff/there-definitely-was-a-time-when-i-was-pretty-obsessed-with-my-weight/) [Hilary Duff](https://sms4smile.com/quotes/author/hilary-duff/) > [If you're talking about intellectual and social equality for women, we're not much better off.America is still very much a male-dominated society. Most American…](https://sms4smile.com/quotes/madalyn-murray-o-hair/if-you-re-talking-about-intellectual-and-social-equality-for-women-we/) [Madalyn Murray O'Hair](https://sms4smile.com/quotes/author/madalyn-murray-o-hair/) > [Business runs hot and cold so the more you're in charge of your own destiny, the better off you are.](https://sms4smile.com/quotes/bill-burr/business-runs-hot-and-cold-so-the-more-you-re-in-charge-of-your-own/) [Bill Burr](https://sms4smile.com/quotes/author/bill-burr/) > [I know that you're better off making your own products, not just waiting for someone to hand you something.](https://sms4smile.com/quotes/michael-winslow/i-know-that-you-re-better-off-making-your-own-products-not-just/) [Michael Winslow](https://sms4smile.com/quotes/author/michael-winslow/) > [The best calculation is the absence of calculation. Once you have attained a certain level of recognition, others generally figure that when you do…](https://sms4smile.com/quotes/pablo-picasso/the-best-calculation-is-the-absence-of-calculation-once-you-have/) [Pablo Picasso](https://sms4smile.com/quotes/author/pablo-picasso/) > [I applaud the Supreme Court’s decision to strike down the Defense of Marriage Act. This was discrimination enshrined in law. It treated loving, committed…](https://sms4smile.com/quotes/barack-obama/i-applaud-the-supreme-court-s-decision-to-strike-down-the-defense-of/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [It's like a rugby team. If you're picking for the World Cup final, you're picking experience with youth. 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We \[New View Window Cleaning\] are the salesman, bookkeeper, scheduler, cleaner, customer complaint department, etc. If you… ](https://sms4smile.com/quotes/tony-evans/any-small-business-owner-wears-many-hats-we-new-view-window-cleaning/) [Tony Evans](https://sms4smile.com/quotes/author/tony-evans/) [Browse all 465 Better off quotes ](https://sms4smile.com/quotes/about/better-off/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income. That used to be the case 50 years ago. Buyers had to save up and make a higher down payment, giving them more equity - perhaps 25 or 30 percent. 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