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> artificially weak due to high mortgage rates preventing anyone from selling I wonder how much that matters. I agree less people are moving, but typically ho
by patrickthebold 3y ago
> artificially weak due to high mortgage rates preventing anyone from selling
I wonder how much that matters. I agree less people are moving, but typically homeowners who sell will also be buyers, so no net change in availability. I guess some people can afford a second home and they keep the old one and rent it out so they can keep the old mortgage, but that must be small compared to people staying put.
- firesteelrain 3y agoIn our system, housing has to cycle occasionally or you end up with no mobility.
- harambae 3y agoThis is how I think of it as well, the person who isn’t selling is probably one less buyer. What if we change the life necessity to another one — cars. During the pandemic I was thinking about upgrading my car, but I didn’t after prices went up. I’ve just chilled with the same car since 2010 now. So.. did I contribute to the auto shortage that’s on going? Feels kind of weird to look at it that way