3 ms·

I don't know, maybe, or only I liked it better when there was so much new houses being built that this wouldn't of happened. Some of us People of Age remember g

I don't know, maybe, or only I liked it better when there was so much new houses being built that this wouldn't of happened. Some of us People of Age remember growing up in houses built in post-war baby boom buildings, so there was enough of a housing increase that people weren't paying so inflated prices for houses. Maybe this is what we get when interest rates are so low and so little money is needed for down payments, I know a bunch of people who are started getting into real estate in the last year because even though it's lots of money banks make it easy if you have credit.

rgbrgb 5y ago
> this is what we get when interest rates are so low I think it's what we get when the voting base is homeowners who want to protect property values with restrictive building policy. Edit: To expound a bit... one has to ask why, given that there is a huge and growing market of buyers and would-be buyers if they could afford it, the market is not producing supply like you describe for baby boomers. My anecdotal understanding of this is that there are just a ton of boomers who don't want to build anymore, who want to "protect the character" of their neighborhoods, and would prefer that new would-be-buyers look elsewhere.
- poulsbohemian 5y ago
  You are absolutely on the right path, IMHO... in my market we have a lot of land, but the zoning of it is such that it is arduous to build. Likewise, what can be built profitably is not necessarily affordable for buyer. I see gaps at every price point - the first time buyer has to either buy a poorly built new construction that they can barely afford, or they have to buy older construction where they may not have the equity or capital to property maintain. At the top of market, IE: luxury, builders are hesitant to build without a ready buyer because of the massive outlay, especially knowing that those buyers are very selective. Middle of the market you end up with properties that smell of builders trying to push up price and perceived amenities while being very careful to not push up their costs. So you end up with nice houses on terrible lots, or you end up with cheap construction with a varnish of granite and stainless steel appliances to make it look better than it is.

rgbrgb 5y ago

> this is what we get when interest rates are so low I think it's what we get when the voting base is homeowners who want to protect property values with restrictive building policy. Edit: To expound a bit... one has to ask why, given that there is a huge and growing market of buyers and would-be buyers if they could afford it, the market is not producing supply like you describe for baby boomers. My anecdotal understanding of this is that there are just a ton of boomers who don't want to build anymore, who want to "protect the character" of their neighborhoods, and would prefer that new would-be-buyers look elsewhere.

poulsbohemian 5y ago
You are absolutely on the right path, IMHO... in my market we have a lot of land, but the zoning of it is such that it is arduous to build. Likewise, what can be built profitably is not necessarily affordable for buyer. I see gaps at every price point - the first time buyer has to either buy a poorly built new construction that they can barely afford, or they have to buy older construction where they may not have the equity or capital to property maintain. At the top of market, IE: luxury, builders are hesitant to build without a ready buyer because of the massive outlay, especially knowing that those buyers are very selective. Middle of the market you end up with properties that smell of builders trying to push up price and perceived amenities while being very careful to not push up their costs. So you end up with nice houses on terrible lots, or you end up with cheap construction with a varnish of granite and stainless steel appliances to make it look better than it is.