” what isn’t going up in price? Basically, single-family homes”
Correct. I’ve lived in my home since 1970, and for the 1st time my assessment value has dropped. By $14.000.
I bought mine before the bubble, watched the value go up, and have watched it steadily decline for years; here in NJ our sky-high property taxes ensure that prices will never go very high. Years ago all building stopped altogether due to the flight of companies and workers from the region; now construction is mostly apartments and condos (both to house Americans of all ages who have foregone children, and for the young foreigners being imported to take the jobs they hold). Rather than reducing costs as the population of American schoolchildren declines, the government seems bent on importing foreign schoolchildren as well; our government-worker class will continue to strangle taxpayers even if they have to import young terrorists to fill the classroom seats.