3 ms·
> Not seeing a lot of significance here. $150K in 1995 is ~$300K in 2023 dollars. See the significance now? > Some things having demand increaae more than sup
by game_the0ry 3y ago
> Not seeing a lot of significance here.
$150K in 1995 is ~$300K in 2023 dollars. See the significance now?
> Some things having demand increaae more than supply doesn't make then “not a market”.
A market that benefitted from the downtrend of interest rates to ZIRP, PPP "loans" (more like grants), investors (which make up 20-30% of buyers, though they make like 1% of owners), and a Fed with $8.2 Trillion on balance sheet, is not what I would call a functioning market.
Questions worth contemplating - if all the post covid stimulus did not happen, what would have happened to the housing market? And what would have happened to the economy? Shouldn't the rate of increase in income track with rate of increase in house prices?