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The reason prices are so high in the area you live is that so few people want to leave, so the available housing is a tiny percentage of the total housing that
by austenallred 9y ago
The reason prices are so high in the area you live is that so few people want to leave, so the available housing is a tiny percentage of the total housing that is being bid on, compounded by the fact that you can rent out your house for 4x you’re mortgage, so why sell? Adding more housing alleviates that pressure significantly.
It’s been years and next to nothing has been built in the vast majority of the Bay Area - housing has decreased in some parts. It’s not a rapid development concern, it’s a no development concern.
- Nuzzerino 9y agoI saw a recent figure that around half of residents want to leave. Where did you get the idea that few people want to leave?
- austenallred 9y agoThe reason they want to leave is because they can’t afford to stay. The number of homes for sale is orders of magnitude lower than comparable areas.