The problem tends to be that houses are being built but they’re not the right houses. They’re all really expensive houses, there’s nothing for first time buyers.
I know you said compared to what people make, but I would kill to see a starter house for under 200k…
Where I am (not NYC not Cali) the cheapest is 300k for a twice burned down glorified shed in a flood zone and in the worst parts of town. It’s absofuckinglutley insane…
You may be right. I saw an article about a year ago that said the only way they saw out of the housing crisis was to build like crazy. And that makes sense but if the economy takes a nosedive then the buying may stop which could cause a crash. No one can predict the future, but markets do fall apart sometimes.
I think it’s happening, at least in pockets. Housing developments that were abandoned after the 2008 crash are starting to spring to life again around here. Some of them have already doubled in size and one is getting ready to get about 10x as big.
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The problem tends to be that houses are being built but they’re not the right houses. They’re all really expensive houses, there’s nothing for first time buyers.
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I know you said compared to what people make, but I would kill to see a starter house for under 200k… Where I am (not NYC not Cali) the cheapest is 300k for a twice burned down glorified shed in a flood zone and in the worst parts of town. It’s absofuckinglutley insane…
You may be right. I saw an article about a year ago that said the only way they saw out of the housing crisis was to build like crazy. And that makes sense but if the economy takes a nosedive then the buying may stop which could cause a crash. No one can predict the future, but markets do fall apart sometimes.
I think it’s happening, at least in pockets. Housing developments that were abandoned after the 2008 crash are starting to spring to life again around here. Some of them have already doubled in size and one is getting ready to get about 10x as big.