Why Are Home Prices SO Expensive Now?
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Greed!
Bro left out black rock 😂
And wage growth
Not excusing them, but investment firms account for like 1% of total house ownership. That argument doesn’t add anything. Feds mangling things and low inventory are the reasons for high prices.
Oh wow you can repeat things you saw on social media with zero research on your part
I only care pre covid to now , who the heck cares about the 50’s
true
The surplus of demand is truly sad. Not all landlords are like you Gramham. Capitalism has matured to the current establishment, most of which is determined to reverse engineer liberty and constitutional rights that have long been equated with home ownership and freedom
Regulations inspections etc
20 percent plus of Americans getting public assistance.
Section 8 is a self perpetuating cycle. Welfare creates elevated demand for things that only hardworking people used to get. This causes inflation and a spike in demand, causing prices to shoot up through the stratosphere, thus causing more people to be dependent on the dole. Section 8 didn’t exist in the 1950s, instead, those on welfare were often segregated in public housing, which itself was only around 30 years old (before that, the impoverished lived in shanties, tenements or total institutions such as workhousespoorhouses)
Does it also have to do with the fact that more women are working? So now you have couples with more income, competing for houses in the same good areas. Also, you have both independent women and men in the marketplace that are choosing not to get married buying their own individual houses as well. I agree that regulation and other things have driven prices up but demand at the end of the day is what drives prices, in the best areas.
So we have learned over the years to make consumer goods (TVs, Phones, Computers, etc…) cheaper and cheaper over the years but we can’t manage to do the same with housing materials? The math isn’t mathing.
1 major difference. Lawmakers actually understand how to make housing impossible to build and expensive. They have little to no understanding on smartphones. It’s why states like California have silicon valley and insane taxes.
Consumer goods can be created in low cost areas then shipped to higher cost areas. With homes, it’s not that easy.
But, good news, you can still get a relatively inexpensive home in the countries where they build those low cost consumer goods.
everyone should own a house for their family, it should not be a dream.
So basically yet again… the governments fault this is why we really desperately need a government who can’t stick their nose in everyone’s business all the time. The government should be 1/10 of the size it is now.
No, the reason they are over priced is due to corporations buying up neighborhoods to rent out.
Less than 2% of residential properties are owned by corporations. Don’t believe me? Just Google it.
So it doesn’t have anything to do with 30 million illegal aliens or the refugees or companies buying up all the properties?
Sorry but while those things are factors, the main surge in home prices came after 2008 when “mom and pop” real estate investors like yourself started buying single family homes. Before that real estate investment was primarily focused on commercial properties and multi family homes. People blame firms like Blackrock but compared to the amount of real estate owned by “mom and pop” investors their slice of the pie is negligible.
Let the market be truly free again
Foreign and corporate investors are buying them like candies, that’s why I always hold on to my land
Speculation and the dying off baby boomers
The population in 1990 was 250 million people. Now it’s 350 million. The problem is obviously our oligarchs importing 100 million people in one generation to replace us. Mass immigration artificially increases demand and therefore drives prices over everything up, thus benefiting banks.
Graham, it’s the purchasing power of the dollar that’s gone down due to many government decisions and the federal reserve.
Supply and demand is why it’s so high.
At the root of all this is a drastic shift in how housing’s role as an investment asset has gone very far into being the top priority. This has coincided with the birth and meteoric proliferation of the NIMBY (Not In My Back Yard) movement.