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Markets don’t restrict themselves based on the income level of buyers. As long as there are more people who want to come to California than there are houses, al
by DataWorker 9y ago
Markets don’t restrict themselves based on the income level of buyers. As long as there are more people who want to come to California than there are houses, all house prices will increase. You can build a cheap home, but unless you means test buyers, it could be purchased by Bill Gates and rented out for twice the mortgage rate.
- YokoZar 9y agoThe number of people waiting to move to California at current price points (or even substantially lower ones is not limitless. That's why you build more houses. The more you build, the less contention for housing at whatever quality level.