Dogecoin creator Billy Markus expressed concerns about a potential economic crisis linked to the sharp rise in housing prices in the US in a post on platform X.
US Housing Price Surge
Markus retweeted a chart from @Barchart showing the rise of inflation-adjusted housing prices in the US from 1890 to 2025 according to the Case-Shiller index. By 2025, the index is projected to reach 299.9 - a record high over the past 135 years, resulting from high demand and low supply in the housing market. In 2006, the index registered at 266, preceding the financial crisis that inspired the movie 'The Big Short.'
Potential Economic Implications
According to Markus, the current peak in housing prices does not seem sustainable. However, he noted that addressing the issue could lead to the destruction of the global economy. Stabilizing the market may require raising interest rates, which could result in decreased borrowing capacity. High rates might catalyze a housing market crash, a banking crisis, and mass layoffs in the construction sector, potentially leading to a global recession.
Opinions from Commentators and Experts
Some users under Markus's post disagreed with him. One user, @21DogeLoge42, suggested that lowering interest rates would be the perfect solution. Another commentator, @YourWebmiester, indicated that they foresee not a crash, but rather a readjustment of the global economy related to this bubble.
Thus, Billy Markus's comments regarding the rise in housing prices highlight potential risks to the economy. Analyzing the situation shows that actions taken to correct the current state could have negative consequences.
