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> where the population peaked in the late 90s 1. Peak housing demand doesn't necessarily have to coincide exactly with peak population, because it also depends
by iggldiggl 2y ago
> where the population peaked in the late 90s
1. Peak housing demand doesn't necessarily have to coincide exactly with peak population, because it also depends on average household sizes and living space demand per person.
2. Country-wide population figures don't account for regional population movement.
- Tade0 2y ago1. Prices started going up when prospective homebuyers were already a particularly small generation who also had fewer children - they adjusted family size to their living space demand as it's not like they could suddenly afford more spacious housing. 2. The trend for the past 20+ years has been to move out of cities, with the urbanization rate actually decreasing over that period, as urban real estate was never really affordable. Yet, prices, especially in cities, went up.