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Population is growing and the earth is still the same size. The number places you can build a new home is shrinking and more people want a home - so prices wil
by taf2 8y ago
Population is growing and the earth is still the same size. The number places you can build a new home is shrinking and more people want a home - so prices will tend to go up. So it’s usually a safe bet to say home prices will only go up.
- closeparen 8y agoUntil buyers have no other spending or saving left to cut.
- iambateman 8y agoMultiply this principle by the “attraction to city amenities” and the “acceptable travel time”. The number of places to build a new home proximate to food and leisure is limited and creates this effect near cities. Drive into the country, and there are plenty of remaining 0.1 acre plots available for cheap. If self-driving cars substantially affect the cost of transportation time, we could see another epic flight further and further from cities, which would hold housing prices down for a long time.