4 ms·
Real house prices are currently up 44% since the nineties. https://3.bp.blogspot.com/-OOfzxFgh8YE/WD2XUyaZeqI/AAAAAAAApec/LpxQXvVd6KAVayKcZrGtGNxjRGrYBQgQQCLcB
by jpmattia 10y ago
Real house prices are currently up 44% since the nineties. https://3.bp.blogspot.com/-OOfzxFgh8YE/WD2XUyaZeqI/AAAAAAAApec/LpxQXvVd6KAVayKcZrGtGNxjRGrYBQgQQCLcB/s1600/RealSept2016.PNG https://3.bp.blogspot.com/-OOfzxFgh8YE/WD2XUyaZeqI/AAAAAAAAp...
That is not accounted for by sq footage. Interest rates are a much more likely culprit.
- deleted 10y ago[deleted]
- AnimalMuppet 10y ago> Interest rates are a much more likely culprit. To expand on that a bit: Supply and demand in houses doesn't work on the price. Supply works on the price; demand works on the monthly payments. When interest rates go down, the same people can now spend more on a house for the same monthly payments, and so the price rises.
- int_19h 10y agoIt would also be worth looking at the geographic distribution. I suspect that most of that growth is from urban areas. Which, then, would also reflect the ongoing urbanization (and corresponding rise in demand).