We're way past historical affordable housing! Governmental fees will have to be waived entirely, before we can even start! Fifteen years ago I investigated the fees to build a house across the street from me. I needed to give the city $40,000, before I could scratch the ground!
Move to Portland. We've got plenty of freshly constructed housing sitting empty because the cost of living has sky rocketed so high that people can't even afford to live here anymore.
so, it's a sellers market 😀
Do illegal aliens effect the affordable housing market? I doubt those 20 million are living in luxury Housing, or buying property.
I wonder how this is impacting the “flipping” markets.
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America's Housing Affordability Crisis Only Getting WorseA limited supply of homes for sale, a deepening construction labor shortage and high land costs continue to fuel the housing crisis, I agree with, some of the construction/cost/zoning/NIMBY-specific issues cited in this piece. But also consider an imp. macro issue: Asset-price-focused Fed/monetary policy. Easy money has been a (key) contributor to steep increases in almost ALL asset prices, housing included IOW, it hasn't just been housing prices rising much faster than incomes for half-decade-plus. It's prices of CRE, stocks, esoteric assets (think artwork, collectibles, etc.). Only thing that allows prices/incomes to re-align is unwind of easy $-fueled asset gains Because wages don't increase at the same rate housing costs do.
Source: Forbes - 🏆 394. / 53 Read more »