Do you think we will ever have affordable housing again in our lifetime?
Do you think we will ever have affordable housing again in our lifetime?
Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
You're viewing a single thread.
Yes. Housing prices have always crashed about once a decade, ore or less. Also prices tend to plateau for 10-15 years until Incomes catch up. I don’t see why this won’t continue to happen
The only difference is this time we have clear lack of supply, along with impediments to building more housing in places people want to live. There’s a profit incentive to building more and I wouldn’t bet against overcoming those obstacles. Money always wins
There are 17 million vacant houses in the US. Also 60k homeless people. There is plenty of housing if we crunch down on inequality.
The question is where are those houses? Are they in towns and cities people actually want to live in, or are they in bad locations and that's why they are vacant?
Oh. Oh, this is stupid. That's why there's so many considered vacant.
The Census Bureau considers any home unoccupied on April 1 — census day — to be “vacant,”
https://www.nytimes.com/2022/03/10/realestate/vacancy-rate-by-state.html
Those numbers really aren’t comparable and the relevant data is not sufficiently detailed to make a valid comparison.
https://www.reddit.com/r/badeconomics/comments/musne8/disproving_the_vacant_homes_myth/
What's a vacant house? Is it unowned? Or is it a second house?