3 ms·

"house values have little choice but to go up" [citation needed]

• pchristensen 17y ago
  It's a savvier statement than it seems on the surface. Topography, water supply, and especially zoning prevent housing supply from meeting demand in much of the country (hence high prices). Housing is temporarily down because both the economy and the mortgage money supply are readjusting. But for pretty much every place where median house price > (3*median household income), it can handle a lot of economic collapse before housing prices stay down.
  • icefox 17y ago
    "Housing is temporarily down because both the economy and the mortgage money supply are readjusting." This is flat out wrong.
    • pchristensen 17y ago
      Enlighten me. And to be more specific, I'm talking about regions where geography and zoning prevent any significant expansion of housing supply.