“My kids are trying to buy a starter houses and are being priced out of the markert. Sorry you don’t fu—ing care...”
Historical low interest rates and subsequent housing demand as a result is what is pricing your kids out of the market.
Blackrock, Invitation Homes, and a CCP investment fund have been buying single family homes. This is something new and in California it has been driving price increases. Houses are unaffordable for first time buyers, at least American ones whose families aren’t rich. The rest of you get impacted by this as Califrnians sell and leave the state and drive up your prices. Very average houses in Orange County are listing in the mid $800,000s.