The house purchase market is a joke is rigged and in socialist communist states is stupid
In a socialist state like California New York or New Jersey you never wrote anything and if you don’t pay your property taxes once even if you pay cash for the house they will take it
The rental market is a Rwal market covered by Real market forces
Furthermore when you’re renting and things go south with the landlord you can get the hell out rather quickly like we had to do last year
Owning your own home is a great lofty part of the American ideal. and is a wonderful idea when it can be accomplished in a sane and economic way
But being in the construction business and seeing my share of little tiny boxes on postcard size lots worth $1 million I know better
The very low interest rates have a lot to do with the higher prices. If interest rates go up a couple of points the house prices will drop like a rock.
The demand for housing is not based on the price of the house but on your monthly mortgage payment.
2/3 of millenials in a recent poll said they regret buying a home. Too much maintenece takes away from their fun time was the reason.
The younger folks are a rent and lease generation.
You have companies buying up 10’s of thoudands of homes at 20% or higher then listed then they rent them out then your money guy says to invest in the real estate companies and earn 5%
Blackrock owns 80,000 homes and they just bought a company that rents out 17,000 homes.
The vile, evil Federal Reserve has done nothing but make housing prices unaffordable for the general population (*especially* for first-time homebuyers without equity).
But, at least Juneteenth is a federal holiday now. </sarc>
A 4x8 foot piece of 26 gauge galvanized sheet metal last week was $25.08. This week it is $54.27. That is the common metal duct work is made from to put in a house.