Mortgage rates in 1981 were 14% but the sq. ft. cost you paid for a home was drastically less than today.
If the government stops intervening in the market, the law of supply and demand should resolve many issues.
What is something worth? It's what the public is willing to pay for it. When half-million dollar homes stop selling, their price will come down and/or less expensive homes will be made available by an innovative builder/developer.
True, but so was everything, in 1985 I bought a 1200 sf house with full basement for 69,000, and bought a new car (escort for 5000) all while making 11 an hour, interest was 10 but had a 321 deal so first year was 7% and my total monthly Payment, taxes, insurance, P&I was 492$
House is long payed off but I am still renting to the govt taxes in 1985 was 892 for the year now it’s almost 4000 or 333 a month
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