If the price is out of reach for more people, wouldn’t that naturally depress prices? Maybe not
Fixer-upper market seems to have dried up. There’s always Detroit. Then there’s the baby boomers dying off. Oldest is 77 youngest is 58.
As you said.
Maybe not.
You have several corporation with a great deal of money bidding on houses making sure that the price stays out of the reach of the average person.
And a lot of these corporations are outside of the US.
You would think that this would worry someone but apparently not.
I can tell you we just saw a single wide mobile home for rent for $1500 a month in Mooresville North Carolina. There’s apartments and townhouses going up that start at $2200 rent.
We are currently paying 1400+ a month and it goes up 4% every year for a two bedroom house two bath two car garage. All electric, Well and Septic Tank.
We are looking for a Rent2Own. But We have crappy credit scores. So of course if one has money and good credit score one cane borrow as much as one wants. We get told to try again...Such is life.
How many people rent and how many people own homes?
The homeownership rate can give us an idea of how many people own their homes versus how many people rent. Of the approximately 124 million occupied homes in the country, 81 million are occupied by the owners, and 43 million are occupied by renters. Another 16 million or so remain vacant.
https://woodgroupmortgage.com/articles/latest-statistics-homeownership-america