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> once housing prices come back down to earth Big assumption there. Prices have fallen moderately so far (in some places) but mortgage rates are up which means
by UncleOxidant 4y ago
> once housing prices come back down to earth
Big assumption there. Prices have fallen moderately so far (in some places) but mortgage rates are up which means there's still an affordability problem.
If prices were to "come back to earth" it would likely take a pretty serious recession to get us there (something akin to the '08 GFC) and that means even less people able to afford to buy.
- sokoloff 4y agoThe only two ways for prices to move substantially lower are to increase supply (build a lot more units) or reduce demand (have lots of people not in a position to buy).