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It's actually not because there are too many doses right now, because most people can mot afford to move to a house of a comparable size. There were way too ma
by epistasis 3y ago
It's actually not because there are too many doses right now, because most people can mot afford to move to a house of a comparable size.
There were way too many dollars when mortgage rates were at 2-3%, not at current mortgage rates there are very few dollars for buying homes.
This is less a monetary inflation of prices and more structural and supply related. Whoever said that "inflation is always a monetary phenomenon" was a religious nut, IMHO.
- zeroonetwothree 3y agoOne homeowner moving from a house to another similar house has no effect on overall home affordability. So I'm not sure why this is relevant. > Whoever said that "inflation is always a monetary phenomenon" was a religious nut, IMHO. Yes, I'm sure you have many more qualifications than a Nobel Prize winner.
- epistasis 3y agoCurrent homeowners often simply can not move, because the costs of a new mortgage at the same sticker price are too high to afford. This results in an illiquid housing market where people can not move as frequently at they would like.