Quote:
Originally Posted by blender
There is a bunch of misinformation being thrown around here about the cost of housing. It is not artificially high right now. I build homes for a living and I can tell you that the actual cost to build has gone up significantly in the last few years. Everything costs more right now than it did pre-pandemic. Any type of correction will need to work its way through the industry at all levels before there is an actual reduction in cost. It can (and probably will) happen, but the notion that it can be effected with any singular mechanism is misguided.
From a political standpoint, expecting any leader to simply be able to enact a policy that will correct this is naive, just as it is naive to simply blame our current government for it. Good policy will certainly help stabilize the market, but there is no silver bullet solution.
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I think the cost of resale homes is too high because of the market.
Cost of new builds is in line with what it costs to build, and I'm not seeing that coming down anytime soon either.