...and conceivably hurting local economies and housing markets.
Last year my daughter and her husband moved from Studio City, CA to a Phoenix suburb. The rate of pay for their jobs as accountants was essentially the same, but they got a house for $250k that would have cost over a million in Studio City.
There needs to be a correction. It’s about bloody time.
There needs to be a correction. It’s about bloody time.
Their move was a correction for them.
In a free market, real supply and demand determines the selling or rental price.
Exactly right, housing costs in those localities are completely out of whack.