4 ms·
Sure there is a problem, but the article is literal bs. Obviously most people are not homeless, so they found some place they managed to afford. One clue is tha
by cat_plus_plus 3y ago
Sure there is a problem, but the article is literal bs. Obviously most people are not homeless, so they found some place they managed to afford. One clue is that they are looking at "median home prices". Nobody buys a median home, they buy one that matches their needs and budget. If nobody is able to bid on a home for a few months, seller usually lowers the asking price rather than changing their mind about selling.
We can talk of unaffordable as buying a home leaving the buyer with little extra cash to spend on other priorities or unexpected hardships. Or discuss specific drivers of high housing prices, such as NIMBYism, regulation or labor shortage. But it helps to have conversation on non-stupid terms.
- BeetleB 3y ago> Nobody buys a median home, they buy one that matches their needs and budget. The point of the median is that if the median price is higher than most people can afford, then less houses will be bought. If you live in SF and can only afford a $200K house, one isn't going to pop up for you to buy.