Housing Affordability Is About To Crash The Most On Record

Tradeforprofit.net ^ | 3-23-2022 | TFP Editor

[Clemenza]

Nobody is entitled to a home of their own. If you can’t afford a house, rent. Wait for market to crash, then buy.

[Clemenza]

Because Americans fetishize home “ownership,” even if they are paying rent to the bank.

[Clemenza]

Actually NYC has grown, albeit slightly. Most of those people who are moving to Florida (or North Carolina if still of working age) are moving from the suburbs, rather than the gentry precincts or Manhattan or Brooklyn.

What’s also missed in this is that many of the NY migrants to Florida, especially to Orlando, are Hispanic and black folks in d more modest incomes.

[Clemenza]

On another note, housing prices (and rents) in the NYC area are still at record highs and considerably more expensive per square footage than any place in NC, TN, or FL. I know this as someone who is waiting to buy once the bubble pops.

Americans are not moving as frequently as they did decades ago. That combined with record low birth rates and continued retirements of the boomers should be taken into account.