4 ms·

> Economic laws dictate that anyone who wants to purchase a house should be able find one that they can afford Which economic laws dictate that?

• andrewjl 9y ago
  Supply and demand
  • traek 9y ago
    You misunderstand supply and demand. Consumers can be (and are) priced out of the housing market just as they can be priced out of any market.
    • Can_Not 9y ago
      The other user probably did understand supply and demand. Consumers being priced out of the housing market can be a market failure. And in this scenario, it is a market failure. For every homeless person living in the street, there are 6 empty homes in the US, but a couple with 2 jobs and a down payment can't get approved for a home loan? Most definitely there is a market failure. https://en.m.wikipedia.org/wiki/Market_failure https://en.m.wikipedia.org/wiki/Market_failure
    • andrewjl 9y ago
      As long as there's land to build on and materials to build with, all creditworthy consumers who wish to buy a house should be able to buy one. (I'm using should in a non-normative sense here.) It may not be spacious, it may not be in the best school district, heck it may be a condo and not a standalone house, but it'll be at a price they can afford.