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Foreign Investment is driving this. The money got sucked out of the US economy (foreign manufacturing, high oil prices back in the '00's) - and now that wealth

Foreign Investment is driving this. The money got sucked out of the US economy (foreign manufacturing, high oil prices back in the '00's) - and now that wealth is consolidated, and they're investing in property all over the place; especially in US suburbs (and Canada), and it's jacking up demand so bad, that even very high-paying white-collar jobs can't realistically finance a house anymore. Oh- people can BUY the homes. They will have to stretch to pay for maintenance, save for kids' college, and their own retirement. Only people who bought before the last bubble are really able to afford these homes. Or Doctors and Lawyers and executives. The only way to beat this game, seems to be; if you're a rock-star, and can work out a remote gig, you can live in a cheap area, and still make "expensive area" money. (and if you go for a company that's expanding to an area of low housing demand: they'll pay you less. AND. In 5-10 years when the economy hits a low spot, they'll shut your site down and lay you off. In any case, the GOOD projects, the kind that will boost your career, are not going to come to your backwater site. You would need to relocate to their main headquarters. Territorial battles are a real thing)

fetus8 9y ago
I've read about the foreign investors, but really want to believe that's only happening in places like CA, but I know that's not true. Housing in Colorado isn't necessarily un-affordable, yet, it's just way over priced. Plus the demand continues to go up, causing pricing to rise. I know that in Northern Colorado, it sort of peaked back in 2016, and the rate at which prices are going up are slower than they were, but housing still isn't cheap. (Luckily, I am fortunate enough to work in a developer role for a company, in an industry that is pretty rock solid, so I think getting laid off isn't a huge threat. I got laid off last year from HPE and managed to land on my feet. I have been working with a mortgage broker to try and buy something instead of paying sky high rents, but being a twenty-something, even with a decently high salary still makes this way harder than it would have been a few years earlier, even with a lower salary. )

fetus8 9y ago

I've read about the foreign investors, but really want to believe that's only happening in places like CA, but I know that's not true. Housing in Colorado isn't necessarily un-affordable, yet, it's just way over priced. Plus the demand continues to go up, causing pricing to rise. I know that in Northern Colorado, it sort of peaked back in 2016, and the rate at which prices are going up are slower than they were, but housing still isn't cheap. (Luckily, I am fortunate enough to work in a developer role for a company, in an industry that is pretty rock solid, so I think getting laid off isn't a huge threat. I got laid off last year from HPE and managed to land on my feet. I have been working with a mortgage broker to try and buy something instead of paying sky high rents, but being a twenty-something, even with a decently high salary still makes this way harder than it would have been a few years earlier, even with a lower salary. )