Yes. You're not seeing the full picture because you're not looking at the problem long-term. The cheap housing of today is the expensive stuff built 30-40 yea

Yes. You're not seeing the full picture because you're not looking at the problem long-term. The cheap housing of today is the expensive stuff built 30-40 years ago that has depreciated. I drive by mansions built in the early 1900s that have become apartments for college students. Houses depreciate as tastes in style and location shift over the years. I've walked through ghettos where the buildings have beautiful Italianate brick work that probably cost a fortune to build new. In 30 years, those trendy apartment buildings you see popping up all over will be subsidized housing.