>They didn't. But the population is growing. The population of Americans in their 20s/30s (typically the age of first time home buyers) has remained mostly sta

>They didn't. But the population is growing. The population of Americans in their 20s/30s (typically the age of first time home buyers) has remained mostly static since 2000. But hell, let's go ahead and assume that the population has grown in some unknown way. Why is my metro awash with perfectly fine $200k 2bedroom homes? The supply is there. It's the demand that has dwindled.