I see a lot of expensive houses being built in my area. A LOT. And the weird thing is that they’re being bought pretty quickly. Are these people just making more money than me? If so, what are they doing for a living? Or are they just living house poor? How exactly are they affording these places?
Edit: For reference, my neighborhood is starting to become popular (because the other popular neighborhoods have priced most people out of affording places there). The normal price of newer homes here is $700k. My home, built in 1965, which is 2500sq ft on a quarter acre of land, is $500k.
Generally the problem simply boils down to there not being enough housing, it’s extremely difficult for it to remain expensive if you have more housing than you have people.
What most of the world needs right now are million programmes, just slap down a bunch of areas with commie blocks wherever you can. Sweden and other countries did this back around the 60’s and wouldn’t you know it those apartments remain vital for providing people with access to cheap housing.