4 ms·
What we spend on housing has doubled. That doesn't mean the cost has doubled. It means that we buy a lot more housing than we used to. Real estate cost is lo
by treis 4mo ago
What we spend on housing has doubled. That doesn't mean the cost has doubled. It means that we buy a lot more housing than we used to.
Real estate cost is local and there are parts of america where the prices have gone nuts. But there's a lot more where it hasn't and housing is affordable.
- selectodude 4mo agoBoth are true. We’ve made cheap housing illegal and we’ve demanded ever higher quality housing. We need to allowed for revealed preferences. In developers we trust.
- bluefirebrand 4mo ago> But there's a lot more where it hasn't and housing is affordable In many of those places salaries have been stagnant or work has dried up So we have a weird situation where someone living in a big city with a large salary is priced out of real estate by high prices, and someone living in a smaller city with more reasonable real estate prices is priced out by a lower income It's not universal of course, but it's a squeeze that a lot of people are feeling
- treis 4mo agoMost of the sunbelt isn't like that. You can buy a 4 bedroom house in Atlanta for 270k and a 2/1 for like 160 and salaries are fine.