> The median price of an existing home, meanwhile, has climbed for 18 months straight, reaching a record high of $407,500 in 2024. In December, the median price

> The median price of an existing home, meanwhile, has climbed for 18 months straight, reaching a record high of $407,500 in 2024. In December, the median price was $404,400. The Baumol effect predicts that as labor costs drop in some industries, labor cost in other industries comparatively goes up. A.I. Can't print more land. And it doesn't seem to greatly affect how much labor goes into home construction. So the housing market is only going to get worse.