4 ms·
Real Estate Bubble Won’t Pop
- sharemywin 5y agoCouple of things: 1. the vacation home market is much smaller than the housing market in general. so supply and demand would kick long before the total housing supply is effected. I think. 2. rents can't really go up much, if income doesn't go up. not sure how profits would go up in that situation. could a 10 year bubble happen sure just not sure it would go on for 50 years. Not sure the rich would want to collect middle class houses. so it would have to be based on a profitable market. 3. people probably will just get pushed out of the city. 4. The US housing market is 33T if it were to go up 30x that would put it at about 1 quadrillion. I'm not sure any monopolist can capture that market.
- Minor49er 5y agoThe author claims that the average price of a home will be $10 million 50 years from now. He says that this is due to factors such as inflation, population growth, more people living alone, lower construction rates of new properties, increase costs of building material amidst shortages, and more people owning multiple properties. Despite these various factors, he concludes that it should be illegal for landlords to make a profit, claiming that "the working class can no longer afford to support the land-lording class." I didn't realize that landlords were a class of their own. From what I understand, most landlords aren't terribly rich. I am not sure why they would be targeted over trying to solve any of the other problems that were mentioned.