"Again, it's not a demand issue; it's a supply issue."
Keep repeating that until you believe it!
No repeat of 2008's housing problems for 'The People's Republik of Madistan.' No sir! Everything is fine...IF you kids can afford a 'starter home' of $424K!
I don’t understand the housing market.
House prices have zoomed far beyond what middle class people can afford. Home prices for an average home almost everywhere in America, are far beyond the average incomes of people would would buy those homes. The average income household cannot qualify for a mortgage in an amount needed to buy an average house.
It seems unsustainable long term, that this can continue. Who is buying all these houses at such inflated prices?
Before long you’ll have to submit your ESG score in order to qualify for a mortgage.
/s...for now.
College towns have often become absurdly expensive places.
Prices in Austin, Texas are extremely high.
The young college graduates like the large prospective availability of marriage partners.
When I was a teen-—I clearly remember that Madison was second ONLY to Washington DC for COST OF LIVING
That was in the late 50’s.
Mr. & Mrs. Yuppie voted to get $10,000 student loan handouts.
What these “highly educated” people don’t know is new housing complexes often must have Section 8 units that they might be paying $50,000 extra for.
The extra $50,000 bumps up housing prices and property taxes across the whole area.
“Institutional grant aid: Aid from colleges and universities grew rapidly over the past 10 years, from $50.2 billion (in 2021 dollars) in 2011-12 to $74.4 billion in 2021-22.
“Loans
$94.7 billion: The total amount that parents and students borrowed in federal and nonfederal loans to pay for postsecondary education in 2021-22.
“This was the 11th consecutive year that annual borrowing declined.”
https://research.collegeboard.org/trends/student-aid/highlights
Most student loan money goes to finance grants.
Marxist redistribution doesn’t stop after the diplomas get handed out. Look carefully at your 1040 forms.