Quote:
Originally Posted by Wolven
I guess it depends on what you view as the problem statement. I think most people view the problem statement as: Housing is too expensive and the cost of housing is rising faster than wages to such a degree that new generations may never be able to buy a home.
If you keep the supply low then demand will always appear to be high because people will have to buy whatever is available and you will never solve the problem statement because prices will continue to escalate out of reach for average citizens.
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Or...maybe people commit over ONE MILLION DOLLARS to buy something they actually do want?
Some people prioritize spending less time in and money on their cars. Prices are high because demand is high, but certain living costs are substantially lower, so one can rationalize bigger mortgage payments into an asset instead of money blowing out the tailpipe. Others prioritize the tranquility of lawnmowers and leaf blowers out in the burbs which also gives them the extra space to store their boat or RV because who wants to spend the weekend in suburbia listening to leaf blowers and lawn mowers...to each their own.
The 'whatever is available' argument worked a lot better when we predominantly built sprawl with some condos/townhouses here and there.