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Government backed loans aren't the problem. The US has the 5th lowest housing price to income ratio [0]. Perceptions are just massively skewed by wealthy area
by mrep 4y ago
Government backed loans aren't the problem. The US has the 5th lowest housing price to income ratio [0].
Perceptions are just massively skewed by wealthy areas with geographical constraints and strict zoning laws which restrict local supply against demand and everyone complaining focuses on those areas.
[0]: https://www.numbeo.com/property-investment/rankings_by_country.jsp https://www.numbeo.com/property-investment/rankings_by_count...
- lupire 4y agoWhere are the $million houses of the OP?
- aperson_hello 4y agoSF (median house price 1.9m) for one...
- maxerickson 4y agoTight supply and government backed mortgages can both be contributors. I can't imagine taking out the loan I supposedly qualify for. Meanwhile, people calculate affordability based on a percentage of their income rather than sweating the overall longterm value of a particular property.
- nonethewiser 4y agoThe unaffordability of housing is A Tale of 20 Cities.