3 ms·
Doubling or even tripling in ten years is not a ridiculous rate of growth.
by chmod600 3y ago
Doubling or even tripling in ten years is not a ridiculous rate of growth.
- skywhopper 3y agoThat’s 7-10% price growth per year. How is that not ridiculous?
- asadotzler 3y agoBay Area housing has been increasing at about 7% per year for about 40 or 50 years.
- cykros 3y agoAnd the Bay Area is the outlier everyone points to when talking about absurd housing markets. So, you know, ridiculous. It also seems to be finally hitting a wall post COVID.
- asadotzler 3y agoHalf a century of strong housing markets isn't a random fluctuation likely to change.
- Sohcahtoa82 3y agoFor a stock, maybe not. But for a house? It is absolutely beyond ridiculous for a house to double in 10 years. Are you kidding me? That's far beyond the rate of inflation. Unless there are significant improvements to the house or the surrounding area, the value of house should not rise faster than inflation, at least not by some significant margin.
- chmod600 3y ago"the value of house should not rise faster than inflation, at least not by some significant margin" What does "should" even mean here?
- Sohcahtoa82 3y agoI think the meaning is clear given the full context of my comment. It is ridiculous for a home owner to expect the value of their home to rise faster than inflation by a significant margin without there being massive improvements to either the home itself or the neighborhood. And skyrocketing housing prices means the rich get richer while utterly fucking over the young generation and locking them out of home ownership as prices rise significantly faster than wages.