3 ms·
Outside of a few areas home prices are not absurd. The Fed doesn't care if studios in SF fall to under $2k a month. Same for Valley salaries.
by jonknee 11y ago
Outside of a few areas home prices are not absurd. The Fed doesn't care if studios in SF fall to under $2k a month. Same for Valley salaries.
- hiram112 11y agoIt seems like home prices are pretty high historically in a lot of places, not just a few. They've bubbled up again not only in SF, but also in most every single area with job growth - SoCal, the whole I95 megalopolis, Denver, SE Florida, Dallas and Austin, Minneapolis, and the Pacific Northwest. In fact, only parts in the rust belt, South, and Midwest remain affordable, based on historic standards. Unfortunately, the majority of job growth is not in these areas. I do not see how homes can retain their value when Boomers begin dying and down sizing, as they own the majority of wealth in real estate and the next generation is loaded in debt already and not forming large households at the historic rate.