[Magnum44]

A few thoughts:

1) Housing demand (and cost) will drop when we have stopped govt subsidizing of millions of illegal aliens and sent them packing.

2) While I abhor ‘low cost housing’ forced into all new construction, you people starting out need to set their sights on starter homes. Too many think they can step right into a mansion they cant afford and dont need.

3) Interest rates go up and down. You cant time the market if you want to get invested in a home. You buy in to what you can afford as soon as you can afford it. If rates go up, you win. If rates go down, you refinance and win. But you keep building equity all the while. The sooner you can start this the sooner its paid off, or the more equity you have going into your next home purchase.

[millenial4freedom]

I agree with all these points, but would add a fourth: Asinine regulations/govt mandates have put homebuilders in a pinch. Homebuilders can only turn a profit if they build upscale/large units.

When my grandparents bought their first house in 1960, a 1,500SF ranch was the prototypical model of a newly constructed home even here in Massachusetts.

Us millennials would love to see more homes here that are modest in size, but homebuilders have consistently built luxury 55+ communities and 3,500SF+ mcmansions. only so many first-time homebuyers can afford these homes.